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Kadence Curtis
Geography
18 August, 19:21
What is a barrier to entry
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Konner Newman
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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