Which of the following describes the type of entry barrier faced for hotels?A. There is a natural entry barrier for taxicabs because entry into the market has been limited through quotas.B. There is a natural entry barrier for hotels because entry into the market has been limited by the economies of scale.C. There is a created entry barrier for hotels because entry into the market has been limited by the economies of scale.D. There is a created entry barrier for hotels because entry into the market has been limited through limited access to key natural resources.

Economies of scale refers to decrease in average cost of production when production increases.

Vhich of the following describes the type of entry barrier faced for hotels? O A. There is a natural entry barrier for taxicabs because entry into the market has been limited through quotas. O B. There is a natural entry barrier for hotels because entry into the market has been limited by the economies of scale. OC. There is a created entry barrier for hotels because entry into the market has been limited by the economies of scale. O D. There is a created entry barrier for hotels because entry into the market has been limited through limited access to key natural resources

Vhich of the following describes the type of entry barrier faced for hotels? O A. There is a natural entry barrier for taxicabs because entry into the market has been limited through quotas. O B. There is a natural entry barrier for hotels because entry into the market has been limited by the economies of scale. OC. There is a created entry barrier for hotels because entry into the market has been limited by the economies of scale. O D. There is a created entry barrier for hotels because entry into the market has been limited through limited access to key natural resources

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter9: Monopoly

Section: Chapter Questions

Problem 1SCQ: Classify the following as a government-enforced barrier to entry, a banker to entry that is not...

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