Asked by

Ashton Hunter
on Dec 11, 2024

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Several states require cosmetologists to undertake 1,500 hours or more of training in order to obtain a license to provide hair styling or braiding services. This is an example of

A) antitrust legislation.
B) government action that promotes competition.
C) a barrier to entry
D) the legal structure that is required for the operation of price-taker markets.

Barrier To Entry

Elements or circumstances that prevent or hinder the ability of new competitors to enter an industry or market.

Cosmetologists

Professionals who provide beauty treatments, including hair styling, makeup, and skincare services.

Hair Styling

The art or profession of cutting, arranging, or shaping hair to enhance an individual's appearance.

  • Recognize the role of barriers to entry in shaping market competition.
  • Understand the implications of regulatory measures on market entry and competition.
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JB
Jason BongfeldtDec 12, 2024
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