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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

How do economies of scale act as a barrier to entry?

To determine

The role of economies of scale as a barrier to entry.

Explanation

Economies of scale refer to a reduction in the average cost when the output increases. The economies of scale for the existing firms are always higher than those of the newly entered firms. This is because the cost of production of the newly entered firms is higher than the cost of already established firms...

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