Why would precommitment contracts, licenses, learning curve effects, and brand advantages protect an established corporation from new competitors?
What will be an ideal response?
Precommitment contracts, licenses, learning curve effects, and brand advantages all create a greater hurdle of entry barriers that new competitors would have to overcome to compete in the market.
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The ________ is the total number of people aged 16 years and older (and not in jail, hospital or institutional care) while the ________ is the number of people employed and the unemployed
A) labor force; working-age population B) labor force participation rate; labor force C) working-age population; labor force D) working-age population; labor force participation rate
Suppose the consumer's income increases while the prices of the goods remain constant. Then the
A) budget constraint shifts outward parallel to the original budget constraint. B) indifference curves become flatter. C) budget constraint shifts inward parallel to the original budget constraint. D) indifference curves shift outward away from the origin.