Which of the following represents a serious barrier to entry?
a. high fixed cost
b. low fixed cost
c. easy access to acquiring resources
d. no history of patents in the industry
e. very elastic demand for the good
A
You might also like to view...
Those who believe that the federal government should make it a priority to balance its budget argue that
A. Running a budget deficit is never justifiable. B. Budget deficits cause real interest rates to be too low. C. Government debt incurred today will lower the living standards of future generations. D. Government debt held in private hands is a danger to national security. E. Taxes should always be assessed at the level of aggregate demand.
If the resource market is perfectly competitive:
a. the market demand for the resource is perfectly elastic. b. the market demand for the resource is perfectly inelastic. c. the suppliers can affect the input price by increasing or reducing their supply. d. the input price to each firm is constant. e. the supply of the resource is perfectly inelastic.