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Shosho Jomaa
on Oct 27, 2024

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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.
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Kinyua KennedyOct 30, 2024
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