micro 10 - Nate neroni Micro HW ch 10 1 I agree with this...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Nate neroni Micro HW ch 10 1. I agree with this statement that pure monopoly does not exist because no matter what type of firm you are, or what you sell, you are still going to compete for people to buy ur product. The firm still needs buyers for its products. 2. The major barriers to enter an industry are economies of scale, patent ownership and research, ownership of control of essential resources and pricing and other strategic behavior. Economies of scale can foster a monopoly because it protects the monopolist from competition. aThis is because only a few or a single large firm can achieve low total avg. costs. Patent owner ship can foster a monopoly because since the person who patents their product will have the exclusive rights to that product they will not have any competition. Control of resources can foster a monopoly because of one company controls a significant resource then they can not allow other firms to access that resource. Pricing and other
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern