Asked by
Victoria Martin
on Dec 08, 2024
Verified
________ present(s) a barrier to entry in the video game console market.
A) Economies of scale
B) Ownership of a scarce resource
C) Network externalities
D) A government franchise
Barrier To Entry
Factors that make it difficult for new firms to enter a market, such as high initial costs or stringent regulations.
Video Game Console
A video game console is a specialized computer system designed for interactive video gaming, often connected to a television or other display.
Network Externalities
The effect that an additional user of a good or service has on the value of that product to others, often leading to a positive feedback loop.
- Determine and expound upon the impediments to entry within an industry dominated by a monopoly.
- Discern and apprehend the influence of scale economies and network externalities on the organization of market frameworks.
Verified Answer
CZ
Learning Objectives
- Determine and expound upon the impediments to entry within an industry dominated by a monopoly.
- Discern and apprehend the influence of scale economies and network externalities on the organization of market frameworks.