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Q1. Half a century ago. foreign banks were prohibited from operating in Britain unless they had an ofce that was within walking distance of the Bank of England, which served as the industry's regulator at the time. How would this requirement serve as a barrier to entry into the banking industry in Britain? Q2. For each of the following, briey explain how it can create a cost advantage for a business. a. Learning by doing. b. Mass production. c. Research and development