Homework Answers
Ans (E) The firm can create entry barriers by:
1. Patents, copyrights of the product
2. By capturing large market share or establishing its brand
3. By operating on economies of scale.
(If the options are not matching with it, please feel free to provide the options in the comment box, will provide the answer according to it).
Ans 2: (D) Introduction of new products is not the example of barriers to entry.
Add Answer to:
e. Three examples of entry barriers that firms with market power can create are and Which...
Which of the following is not an example of a barrier to entry? O A. altering...
Which of the following is not an example of a barrier to entry? O A. altering the characteristics of a differentiated product O B. predatory pricing OC. advertising OD. the introduction of new products O E a cartel G Tacit collusion in an oligopolistic industry O A. occurs when firms achieve the cooperative outcome without an explicit agreement B. results in a non-cooperative equilibrium OC. occurs when firms make an explicit agreement to cooperate OD. results in competitive behaviour, O...
Below are several barriers to entry that businesses can use to maintain market power. Which of...
Below are several barriers to entry that businesses can use to maintain market power. Which of these barriers to entry is especially common among large oligopoly firms trying to maintain or increase their market power? O Legal rights to produce and sell their product Economies of scale Large spending on advertising Advanced technology that is difficult for other producers to replicate
A monopoly is a market in which there are high barriers to entry, which are restrictions...
A monopoly is a market in which there are high barriers to entry, which are restrictions that make it difficult for new firms to enter a market. There are two types of barriers to entry: natural barriers and government-created barriers. Sort the following into the appropriate type of entry barrier. Taxi companies have market power because it is difficult for new companies to obtain a license to operate. ALCOA’s production costs per unit of aluminum continued to fall as the...
Understanding possible entry barriers is most important when analyzing which of the industry forces? Threat of...
Understanding possible entry barriers is most important when analyzing which of the industry forces? Threat of competitive rivalry Threat of suppliers Threat of new entrants Threat of buyers Threat of substitutes Which of the following is not a condition that makes suppliers of an industry more powerful? A) There are a high number of suppliers. B) The industry is not important to the supplier group. C) There are high switching costs for firms in the industry to switch from current...
Which of the following is assumed in a perfectly competive market? 1. significant barriers to entry...
Which of the following is assumed in a perfectly competive market? 1. significant barriers to entry 2. Firms sell similar, but differentiated products. 3. many buyers 4. a small number of producers
Part 1: List 5 Barriers to entry into a market
Part 1: List 5 Barriers to entry into a market1) _____________________________________ 2) _____________________________________3) _____________________________________ 4) _____________________________________5) _____________________________________Complete the following calculationsQuantityPriceTotal RevenueMarginal Revenue0$221$202$183$164$145$126$107$88$6Fill in the blanksA) ____________ ____________ is the ability of a seller or a buyer to affect market price.B) ____________ ____________ is the change in total revenue from selling one additional unit of output.C) ____________ to entry are factors that block the entry of new firms into a market.D) ____________ is a firm that is the lone seller of...
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be su...
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
a. consumer lock-in b. inverse demand function c. Lerner index d. marginal revenue product e. market...
a.
consumer lock-in
b. inverse demand function
c. Lerner index
d. marginal revenue product
e. market definition
f. market power
g. monopolistic competition
h. monopoly
i. network externalities
j. strong barrier to entry
k. switching costs
Firm that produces a good for which there are no close substitutes in a market that other firms are prevented from entering because of entry barriers. Market consisting of a large number of firms selling a differentiated product with low barriers to entry. The...
SET A 1.) Name the 7 Barriers to Entry in an Oligopoly Market. Are barriers to...
SET A1.) Name the 7 Barriers to Entry in an Oligopoly Market. Are barriers to entry Low, Moderate or High in an Oligopoly Market?Why ?2.) What is Game Theory (definition)? How does Game Theory apply to an Oligopoly Market?Are Concentration RatiosLow, Moderate or High in a Monopolistic Competitive Market? Explain why its low, moderate or high.4. Explain how Monopolistically Competitive Firms develop A.)Market Power and B.) Firm's Control over Price. Also, describe and explain The Shape of the Monopolistic Competitive...
is din incent d. Oligopolistic firms earn profits in the long run only if there are...
is din incent d. Oligopolistic firms earn profits in the long run only if there are significant barriers to entry e. Three examples of entry barriers that firms with market power can create are and G
Which of the following is not an example of a barrier to entry? O A. altering the characteristics of a differentiated product O B. predatory pricing OC. advertising OD. the introduction of new products O E a cartel G Tacit collusion in an oligopolistic industry O A. occurs when firms achieve the cooperative outcome without an explicit agreement B. results in a non-cooperative equilibrium OC. occurs when firms make an explicit agreement to cooperate OD. results in competitive behaviour, O...
Below are several barriers to entry that businesses can use to maintain market power. Which of these barriers to entry is especially common among large oligopoly firms trying to maintain or increase their market power? O Legal rights to produce and sell their product Economies of scale Large spending on advertising Advanced technology that is difficult for other producers to replicate
16. If firms in a monopolistically competitive market are earning positive profits, then a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market. 17. As new firms enter a monopolistically competitive market, profits of existing firms a. rise, and product diversity in the market decreases. b. decline, and product diversity in the market increases. c. rise, and product diversity in the...
a.
consumer lock-in
b. inverse demand function
c. Lerner index
d. marginal revenue product
e. market definition
f. market power
g. monopolistic competition
h. monopoly
i. network externalities
j. strong barrier to entry
k. switching costs
Firm that produces a good for which there are no close substitutes in a market that other firms are prevented from entering because of entry barriers. Market consisting of a large number of firms selling a differentiated product with low barriers to entry. The...
is din incent d. Oligopolistic firms earn profits in the long run only if there are significant barriers to entry e. Three examples of entry barriers that firms with market power can create are and G
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