Author Question: Anything that prevents new firms from competing on an equal basis with existing firms in an industry ... (Read 225 times)

piesebel · **on:** Jun 30, 2018

Anything that prevents new firms from competing on an equal basis with existing firms in an industry is called a barrier to entry.
a. True
b. False

Question 2

Which of the following firms is most likely to be a perfectly competitive firm?
a. one of the three largest U.S. automakers
b. one of the Seven Sisters oil producers
c. a public school operated by the government
d. a soybean farmer
e. a manufacturer of refrigerators