Suppose your business is considering entering a new industry. For the following descriptions, determine if they represent a high or low entry barrier for you.

1. The minimum efficient scale is very low relative to the size of the total market high or low

2. High-quality scientists are needed to compete in the industry and they are inelastic in supply high or low

3. There are significant switching costs for customers and they are brand loyal high or low

4. The industry is growing at a pace where incumbents cannot keep up with demand high or low