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The likelihood of new entrants joining an industry is low if switching costs are high because: new entrants struggle to match incumbents' prices. this discourages

The likelihood of new entrants joining an industry is low if switching costs are high because:

new entrants struggle to match incumbents' prices.

this discourages customers from buying a new entrant's offerings.

new entrants struggle to gather enough cash to get started.

each incumbent has a group of loyal customers that enjoy its unique features.

new entrants struggle to get their offerings to customers.

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