Illustrate what prevents other firms from directly competing

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Q. Explain why it would cost Rafel Nadal or Venus Williams more to leave the professional tennis tour and open a tennis shop than it would for the coach of a university tennis team to do so

Q. Suppose Firm X is a monopolist and is receiving positive economic profits. Illustrate what prevents other firms from directly competing away the profits?

Reference no: EM1348805

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