58 669
Assignments Done
Successfully Done
In March 2018
Your physics homework can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world’s newest programming trends.

Answer on Macroeconomics Question for Jimmy Vo

Question #25303
Do you have an example of a monopoly? If so, what are the barriers to entry?
Expert's answer
One type of barriers to entry is product differentiation. In this case, the buyer has come to identify the brand name of the firm with the product. Examples of this would be Kleenex and Jello. Nobody asks you for a paper tissue, they request a Kleenex. Similarly, you would not ask for a bowl of flavored gelatin for dessert, but instead would request a bowl of Jello. In markets where significant product differentiation exists, it is very difficult for new firms to enter. Potential entrants somehow have to overcome the consumers' natural inclination to identify a seller's brand name with the product, and that will not be very easy.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question