The question asks to identify the economist who originated the concept of 'Barriers to Entry' for firms.
Barriers to Entry Concept Originator
The concept of 'Barriers to Entry' was primarily developed by the economist J.S. Bain. His work significantly contributed to the field of Industrial Organization.
Understanding Barriers to Entry
Barriers to entry refer to obstacles that make it difficult for new firms to enter a market or industry. These barriers can protect existing firms from competition and influence market structure and profitability.
- Examples include high startup costs, patents, economies of scale, government regulations, and brand loyalty.
- Bain's research focused on how these barriers affect market conduct and performance.
Conclusion
Based on established economic literature, J.S. Bain is credited with developing the theoretical framework for analyzing barriers to entry.
Important Questions from Microeconomics
Which of the following statement is correct?
I. Indifference curves are sloping from left to right.
II. Higher indifference curve gives a higher level of utility.
If in a production process, all inputs are tripled, which of the following statements follows?
I. If the output is tripled, then decreasing returns to scale apply.
II. When the output is doubled, constant returns to scale apply.
III. If the output is more than tripled, then increasing returns to scale apply.
When it is not possible to make someone good without harming someone, then such a situation is called
According to Ricardo what condition is necessary to make possible international trade between two countries?
Match List I with List II:
List- I
Shape of revenue curve of the firm
List – II
Market structure
A.
Kinked revenue-curve (I)
Monopolistic competition B.
Infinitely elastic straight line curve (II)
Perfect competition C.
Relatively less elastic curve (III)
Oligopoly D.
Relatively high elastic curve (IV)
Monopoly.
Choose the correct answer from the options given below -
