Question

Explain the four different types of barriers to entry in monopoly

Answer 1

Barriers to entry is the term used to describe the obstacles that prevent new competitors from easily entering an industry or area of business.

The different types of barriers to entry in monopoly are economies of scale that lead to natural monopoly; control of a physical resource;

legal restrictions on competition; patent, trademark and copyright protection; and practices to intimidate the competition like predatory pricing.