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How will high entry barriers into market influences profit

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Reference no: EM13224344

How will high entry barriers into a market influence

(a) the long-run profitability of the firms

(b) the cost efficiency of the firms in the industry

(c) the likelihood that some inefficient high-cost firms will survive and

(d) the incentive of entrepreneurs to develop substitutes for the product supplied by the firms? Are competitive pressures present in markets with high barriers to entry?

Reference no: EM13224344

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