a. Which of the following describes the type of entry barrier faced for legal se

Question

a. Which of the following describes the type of entry barrier faced for legal services? 0 A. There is a created entry barrier for legal services because entry into the market has been limited by the economies of scale B. There is a created entry barrier for legal services because entry into the market has been limited by needing certain licenses. ° C. There is a natural entry barrier for legal services because entry into the market has been limited by needing certain licenses D. There is a natural entry barrier for legal services because entry into the market has been limited by government restriction. b. Which of the following describes the type of entry barrier faced for electricity transmission? 0 A. B. C. D. There is a created entry barrier for electricity transmission because entry into the market has been limited by the economies of scale There is a natural entry barrier for electricity transmission because it is cheaper to have only one set of power lines serving a given region. There is a natural entry barrier for electricity transmission because entry into the market has been limited by government restriction. There is a created entry barrier for electricity transmission because it is cheaper to have only one set of power lines serving a given region. c. Which of the following describes the type of entry barrier faced for copyrighted songs and music? A. 0 B. ° C. O D. There is a created entry barrier for copyrighted songs and music because entry into the market has been limited through government action. There is a natural entry barrier for copyrighted songs and music because entry into the market has been limited through price cutting. There is a natural entry barrier for copyrighted songs and music because entry into the market has been limited through government action There is a created entry barrier for copyrighted songs and music because entry into the market has been limited through limited access to key natural resources d. Which of the following describes the type of entry barrier faced for delivery of first class mail in the U.S.? 0 A. O B. ° C. D. There is a created entry barrier for delivery of first class mail in the US, because entry into the market has been limited through limited access to key natural resources. There is a created entry barrier for delivery of first class mail in the US, because entry into the market has been limited through government action There is a natural entry barrier for delivery of first class mail in the US, because entry into the market has been limited through price cutting There is a natural entry barrier for delivery of first class mail in the U.S. because entry into the market has been limited through government action Click to select your answer and then click Check Answer.

Explanation / Answer

a. The right answer is option B.

A created barrier is a barrier which has been put by a regulating agency to control entry into the market. One needs a license to enter into the legal service industry. The license is a created barrier since it is not naturally there and a regulating agency has put the barrier to control entry.

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