Which of the tion where, given the set of strategies beirns that all players wou

Question

Which of the tion where, given the set of strategies beirns that all players would rather employ e above are features of the Nash equilibrium d) All of the are 11) Which of the following is not a) At the turn of the 20th an exarnple of a potential barrier to entrVirar.ndustry? diamond mines century. De Beers controlled the vast majority of the world's a Beers when i incentive my new, genius board game I will be applying for a patent have incentive to enter markets when they observe profits being made nvent c) Entrepreneurs d) The production deliverv market for energy on and delivery of electricity displays economies of scale over the entire size or 12) An entrepreneur takes a on open a hair salon. It costs S2,5 per month to rent the storefront for the salon, and her averags 15. If each haircut costs $40, what are her economic profits If she s trepreneur takes a one year leave of absence from her job, which pays variable cost per haircut is $ ice cream cones at the county fair? a) $40,000 b) $47,500 c) $95,000 d) $20,000

Explanation / Answer

11. c

Barriers to entry prevent potential entry by entrants. If profits are available and firms enter this doesn't prevent entry .

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