Asked by
Maria Velez Romero
on Nov 27, 2024Verified
Which of the following is not a barrier to entry?
A) patents
B) X-inefficiency
C) economies of scale
D) ownership of essential resources
Barriers to Entry
Obstacles that make it difficult for new firms to enter a market, such as high startup costs or stringent regulations.
X-inefficiency
The production of output, whatever its level, at a higher average (and total) cost than is necessary for producing that level of output.
- Detect and describe the barriers encountered when entering monopolistic marketplaces.
Verified Answer
HS
Learning Objectives
- Detect and describe the barriers encountered when entering monopolistic marketplaces.