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18 August, 19:21

What is a barrier to entry

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  1. 18 August, 19:43
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    Barriers to entry are obstacles that make it difficult for a firm to enter the market. The more competitive a market is, the more barriers there are. This means a monopoly will have more barriers than perfect competition. An example could be high costs for development. If you were wanting to enter the airplane market, with a new type of plane, you would need to spend millions just to enter the market.
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