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9 May, 15:27

Ocean Spray has faced limited competition in the market for fresh and frozen cranberries. What barrier has kept new firms from entering the market for fresh and frozen cranberries ?

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  1. 9 May, 16:03
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    Barrier to entry.

    Explanation:

    Ocean spary has an exclusive ownership of cranberries. This is a key input which limits other companies to enter the market and creates a situation of monopoly.

    In the theories of competitions, an economic barrier to entry is a fixed cost that must be incurred by a company which want to enter the market, regardless of sales or production. That way the company which has an exclusive ownership of some good or service has a natural monopoly and has a huge advantage over their competitors.
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