What are the barriers to entry? How do they relate to the creation of potential long-run monopoly profits? Provide an example of a barrier that can lead to a monopoly. Is it possible for an industry that is currently a monopoly to become a competitive market?

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Nusrat FatimaLv10

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What are the barriers to entry? How do they relate to the creation of potential long-run monopoly profits? Provide an example of a barrier that can lead to a monopoly. Is it possible for an industry that is currently a monopoly to become a competitive market?

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