Determine if each example represents a barrier to entry or not. a. Pfizer is the only firm that is legally allowed to produce and sell Lipitor, a best-selling cholesterol drug. barrier to entry b. DeBeers owns nearly all of the world's diamond mines. barrier to entry c. Boeing already serves a large fraction of the jumbo jet market and is able to produce at a lower average cost than any potential competitors. barrier to entry not a barrier to entry - d. Tinseltown Theaters shows almost all the most popular newly-released movies.
Determine if each example represents a barrier to entry or not. a. Pfizer is the only firm that is legally allowed to produce and sell Lipitor, a best-selling cholesterol drug. barrier to entry b. DeBeers owns nearly all of the world's diamond mines. barrier to entry c. Boeing already serves a large fraction of the jumbo jet market and is able to produce at a lower average cost than any potential competitors. barrier to entry not a barrier to entry - d. Tinseltown Theaters shows almost all the most popular newly-released movies.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Determine if each example represents a barrier to entry or not.
a. Pfizer is the only firm that is legally allowed to produce and sell Lipitor, a best-selling cholesterol drug.
barrier to entry
b. DeBeers owns nearly all of the world's diamond mines.
barrier to entry
c. Boeing already serves a large fraction of the jumbo jet market and is able to produce at a lower average cost than any
potential competitors.
barrier to entry
not a barrier to entry -
d. Tinseltown Theaters shows almost all the most popular newly-released movies.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd44e5915-857e-4fc8-a471-b6aa02d5fefb%2F9e92602f-011c-49b6-b6bc-eaebcd6e087f%2Fnvh955_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Determine if each example represents a barrier to entry or not.
a. Pfizer is the only firm that is legally allowed to produce and sell Lipitor, a best-selling cholesterol drug.
barrier to entry
b. DeBeers owns nearly all of the world's diamond mines.
barrier to entry
c. Boeing already serves a large fraction of the jumbo jet market and is able to produce at a lower average cost than any
potential competitors.
barrier to entry
not a barrier to entry -
d. Tinseltown Theaters shows almost all the most popular newly-released movies.
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