3. In topic 2 we discussed the threat of new entrants as one of the five competitive forces impacting industry profitability. In particular we discussed an industry characterized as differentiated increasing the barrier to entry for potential new entrants. Please note: I am asking you about an industry-level effect, not a firm-level effect. In other words, I am not asking you about a company with a differentiated business model like Apple or BMW. a. How does an industry characterized as highly differentiated (in other words, the opposite of highly commoditized) serve as a barrier to entry? Besides explaining what the barrier means, conceptually explain how a potential new entrant specifically is going to be at a disadvantage