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25 October, 03:17

What do economies of scale, the exclusive ownership of essential raw materials used in the production process, and patents have in common?

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  1. 25 October, 03:34
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    Economies of scale, the exclusive ownership of essential raw materials used int he production process, and patents are all barriers to entry.

    Barriers to entry is the existence of high start-up costs and other hindrances that prevents new competitors from entering an industry or area of business.
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