Responses
shortage
shortage
licensing requirements
licensing requirements
low input prices
low input prices
a high market equilibrium price
a high market equilibrium price
1 answer
The correct response is licensing requirements.
Licensing requirements are regulations that need to be met in order to operate in a particular industry, which can create a barrier to entry for new firms. The other options do not typically represent barriers to entry.
1 answer
1 answer
1 answer
1 answer