Barriers to Entry
CMAT 2021 · Innovation & Entrepreneurship · Easy · Innovation and Entrepreneurship
Among the barriers to entering an industry are:
- A.
Patents
- B.
Switching costs
- C.
Status symbols
- D.
All of the above
Answer
A
Explanation
Patents are legal barriers to entry protecting technological innovations. Note: In official CMAT 2021 answer key, Option A is marked.
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