The cost structures for the average firm in industries A and B are as follows: Industry A:
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Question:
- The cost structures for the average firm in industries A and B are as follows:
Industry A: Total Costs = 34Q + 437/t
Industry B: Total Costs = 500,000 + 23Q
Where Q is the quantity being produced and t is the number of years that the production facility has been in operation. Do either industries A or B have entry barriers? If so, what type of entry barriers do they have?
Related Book For
Microeconomics
ISBN: 978-0321866349
14th canadian Edition
Authors: Christopher T.S. Ragan, Richard G Lipsey
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