Discussion Post: Microeconomics
• Explain how the production process creates a high barrier to entry. In other words, how can the production process make it very difficult for new firms to enter the market, thus creating a monopoly? In your explanation give an example of how the production process could create a monopoly.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.