Which of the following is an example of a barrier to entry? (i)a key resource is owned by a single firm.(ii) the costs of production make a single producer more efficient than a large number of producers.(iii)the government has given the existing monopoly the exclusive right to produce the good. a.(i) and (ii)b.(ii) and (iii)c.(i) onlyd. all of the above are examples of barriers to entry.

Correct answer is (d)

All of the above are examples of barriers to entry.

Explanation:

When a key resource is owned by a single firm, the firm do not to compete since its will wholly determine what produce is to be sold to market by using its resources optimally. The resources could material, human and or machinery resources.

The costs of production make a single producer more efficient than a large number of producers - if a firm have all its needs to reduce its cost of production while the quality of products are up to standard, then the selling price for the products will reduced making buyers to demand more thereby creating barrier to other producers.

The government has given the existing monopoly the exclusive right to produce the good - for example, if Government of Nigeria give monopoly to Dangote group to produce Cement in Nigeria for Nigeria, then its created barrier to other producers of cement.

measuring things 1 litre of water

c) up

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