If there are barriers to entry into a market it is possible, Business Economics

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If there are barriers to entry into a market it is possible

If there are barriers to entry into a market, it is possible for the existing firm to earn positive economic profit. All of the following explain this concept except; 1. it is possible for a firm in this situation to charge any price it wants and thus preclude anyone else from entering 2. competition does not erode profits the way it would under perfect competition 3. new firms cannot take advantage of the profits 4. resource immobility.

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Business Economics: If there are barriers to entry into a market it is possible

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Business Economics: If there are barriers to entry into a market it is possible

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