Barriers to entering an industry

A) encourage allocative efficiency.
B) encourage productive efficiency.
C) are the basis for monopoly.
D) apply only to purely monopolistic industries.

Allocative Efficiency

The optimal distribution of resources to produce the types of goods and services most desired by society.

Basis for Monopoly

The underlying conditions that enable a firm or entity to become or remain the sole supplier of a good or service, such as control over resources, government regulation, or technology.