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From course:

Economics A Level (DONEEEEEEE)

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Question:

How can Barriers to Entry Difficultly affect how long Firms already in the Industry can make a Supernormal Profit?

Author: eric_galvao



Answer:

-How ‘high’ the Barriers to Entry is - how long it takes for Firms to Enter the market -Level of Supernormal Profit being made - More Profits = more effort the New Firms need to do to overcome Barriers


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