Question

The three main sources of barriers to entry are monopoly resources, government regulation, and the firm's production process.

Group of answer choices

True

False

Answer 1

True.

Barriers to entry are the forces that prevents others to enter a certain market.

A monopoly can arise when a firm has control over the scarce physical resources. When this happens only that company is able to produce a certain type of good or service amd thus creates monopoly.

A monopoly can also arise from the government rules and regulations regulating the Market. These might be in form of licensing norms, limit to no. Of firms, etc.

A monopoly can also be created from the firm's production process. When a firm has the advantage of economies of scale. These are tge cost advantages that are gained by large firms because of their prices.

NOTE: I HOPE YOU WILL BE SATISFIED WITH MY ANSWER PLEASE DO PROVIDE RATING. THANK YOU AND HAVE A NICE DAY. :))