26 Which of the following is a barrier to entry a. a patented production process

Question

26 Which of the following is a barrier to entry a. a patented production process b. high sunk cost c. the necessity of purchasing a government license to engage in a business d. all of the above demonstrate kinked demand model was developed to 27. The a. the economic efficiency of oligopolistic markets b. price determination in oligopolistic markets c. that prices are likely to be stable in oligopolistic markets d. that product differentiation is likely to be the result of oligopolistic markets.

Explanation / Answer

26. d. all of teh above

all these 3 options re equally barriers to enter.

27. c. that prices are likely to be stable in oligopolixtic markets.

The model states that there will be relatively price stability as the firms in oligopoly will not involve in price war rather they will focus on non-price competetion among wach other.

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