ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 9, Problem 1.2P
To determine
Barrier to the entry of new firm and the ways in which they block the new firms from the market.
Concept Introduction:
Economies of scale refer to the benefit achieved by the big entity over the small entity, because of producing in much effective and cost saving way. Larger the entity, lower is the cost.
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