If an industry is characterized by low entry barriers, strong supplier and buyer positions, high threat of substitutes and inten

Question

Andrew [12]

2 years ago

10

If an industry is characterized by low entry barriers, strong supplier and buyer positions, high threat of substitutes and inten

se competitive rivalry, then the profit potential of the industry is likely to be:

Business

1 answer:

rodikova [14] · Answer 1 · 2023-07-24T15:11:57+03:00

The industry is likely to be a monopolistic industry.

<h3>What is a monopolistic competition?</h3>

A monopolistic industry is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. There is an intense completion among firms in this industry. An example of monopolistic industry are restaurants

To learn more about monopolistic industry, please check: brainly.com/question/21052250

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