Asked by
Shosho Jomaa
on Oct 27, 2024Verified
Conditions that keep new firms out of a monopoly market are:
A) barriers to entry.
B) terms of sale.
C) labor market stipulations.
D) production controls.
Barriers to Entry
Factors that make it difficult for new firms to enter a market, such as high initial investment, complex regulation, or strong incumbent competition.
Monopoly Market
A market structure characterized by a single seller controlling the entire market supply of a product or service.
Terms of Sale
The conditions and stipulations under which a sale is conducted, including payment, delivery, and warranty details.
- Appreciate the significance of economies of scale and entry barriers in the genesis and sustainability of monopoly power.
Verified Answer
KK
Learning Objectives
- Appreciate the significance of economies of scale and entry barriers in the genesis and sustainability of monopoly power.