In this chapter we discuss several types of entry barriers that could allow a firm to maintain
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In this chapter we discuss several types of entry barriers that could allow a firm to maintain some monopoly power. For each of the cases below, describe the type of entry barrier that appears to be most relevant and the kinds of innovation that are or could be circumventing these entry barriers. If you are unfamiliar with these industries you may need to do a little research.
- a patented blood pressure medication
- legal services
- electricity transmission
- municipal sewage services
- a popular social-media platform
- delivery of first-class mail in Canada
- taxicabs
- hotels
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a Patented bloodpressure medication The entry barrier is the legal patent Once the patent expires entry is simple for competing firms Until then they must develop some alternative medication that has ...View the full answer
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