Homework Answers
1. Option D. The introduction of a new product.
Explanation: In a entry barrier, new it becomes difficult for new firms to enter an industry. When a new product is introduced in the market, it does not necessarily prevent the entry of new firms in the industry.
2. Option A
Explanation: In a collusion, firm in an oligopolistic industry enters into informal agreement to limit quantity and affect the price.
ANSWER :
1. Option D : the introduction of new products
Introducing new products is not an example of entry barrier. Anyone can enter with a new product.
2. Option A : occurs when firms achieve the competitive outcome without an explicit agreement.
Tacit collusion is competitors adopting product policies of the leader firm without explicit information and or agreement.
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