1. Describe the impact barriers to entry have on market equilibrium (2 marks)
2. Are markets with barriers to entry more or less likely to have cartels? Explain (4 marks)
3. Some industries have significant economies of scale, which can lead to the emergence of a natural monopoly. Other than breaking it up, identify two other (different) methods a government could use to ensure consumer surplus is maximized by the firm. (4 marks)