Question

What are the barriers to entry that protect some firms against competition from potential market entrants?

Answer 1

Barriers to entry are economies of scale i.e. the firm producing at a very high level that allows the firm to produce the goods at a lower cost that will keep the new entrants out,

Access to raw material, or example some firms in the market have specific raw material used to make the goods then other cannot access it, that will make the market difficult to enter.

Access to new technology, or patent, copyright etc , there are provided by the government to allow the firm to make a higher profit in the market to get them benefit of invention and research etc.