It is difficult to start up a major league sports team because existing professional teams have contracts with the best players and long-term leases on stadiums. Which barrier to entry does this illustrate

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29-04-2022
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It is difficult to start up a major league sports team because existing professional teams have contracts with the best players and long-term leases on stadiums. Which barrier to entry does this illustrate

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gauravsingh23VT gauravsingh23VT · Answer 1 · 2022-05-04T09:29:15+02:00

Control of a key resource is the barrier to entry of the startup of a major league sports team because existing professional teams have contracts with the best players and long-term leases on stadiums.

What is the barrier of control over key resources?

A monopoly is a market in which there is only one seller or a few sellers and no close substitutes for the seller's product or service. The term "monopoly" is technically applied to the market as a whole, but it is now widely applied to the sole vendor in a market as well.

The market may become a monopoly when one team has major control over a resource required for the startup of a team.

Thus, Control of a key resource is the to entry.

For further details about the control of a key resources, click her:

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