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AP Microeconomics - Imperfectly Competitive Markets
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What are the types of barriers to entry?
What are the types of barriers to entry?
High fixed/start-up costs, geography and ownership of raw materials, and legal barriers
Describe the goals of advertising.
Describe the goals of advertising.
To increase demand and make it less elastic
What is price descrimination?
What is price descrimination?
The practice of selling the same products to different buyers at different prices
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