Answer to Question 1
Barriers to entry can be divided into legal barriers and natural barriers. Legal barriers occur when government action blocks competition in a market. For instance, the government could grant a public franchise, government license, patent, or copyright. In all cases, the government action prevents other firms from entering the market. Alternatively, a firm might buy up a significant portion of a natural resource. For instance, DeBeers controls over 80 percent of the world's diamond market. The other type of barrier to entry is a natural barrier. A natural barrier to entry occurs when economies of scale are so large that they make it possible for one firm to meet the entire market demand at a lower price than could two or more firms. In this case, the market will naturally evolve to become a monopoly as a larger firm uses its cost advantage to cut its price and drive its high-cost, smaller competitors out of business.
Answer to Question 2
(1.) The market price of the output.
(2.) The techniques of production which are available.
(3.) The prices of inputs.
Types of transporters based on the direction of transport.
Types of selective media
What are examples of ideal forms?
A TECH 2 scan tool is the factory scan tool used on General Motors vehicles.
Pathways of nitrogen metabolism (purple) in the general pattern of intermediary metabolism
Skeletal Muscle Fiber Types