Which is a barrier to entry? Patents Revenue maximization Profit maximization El

Question

Which is a barrier to entry?          

   Patents
                                        Revenue maximization
                                        Profit maximization
                                        Elastic product demand
              

              

          Sam owns a firm that produces tomatoes in a purely competitive market. The firm's demand curve is:                                                            A vertical line
                                        A horizontal line
                                        Upsloping to the right
                                        Downsloping to the right

Explanation / Answer

1)Revenue maximization

2)

Downsloping to the right

3)Successful price discrimination will generally result in a lower level of output than would be the case under a single-price monopoly

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