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Economics · May / June 2023 · Paper 11 · Question 14

2281Firms

Which conditions are most likely to attract small firms to enter a market?

  1. Athe market for the product local; fixed costs of entering the industry high
  2. Bthe market for the product local; fixed costs of entering the industry low
  3. Cthe market for the product national; fixed costs of entering the industry high
  4. Dthe market for the product national; fixed costs of entering the industry low

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Correct answer: B. the market for the product local; fixed costs of entering the industry low

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