4. 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 where economies of scale effects exist increasing the barrier to entry for a potential new entrant. Please note: I am asking you about an industry-level effect, not a firm-level effect. a. How does economies of scale effects in an industry serve as a barrier to entry? Discuss both supply-side and demand-side economies of scale. Besides explaining what the barrier means, explain how a potential new entrant specifically is going to be at a disadvantage