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Question about the Chapter 3

This topic has 1 reply, 2 voices, and was last updated 8 years ago by Ken Garrett.

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September 25, 2016 at 4:20 am #341611
jessie1996
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Why isn’t the high know-how the barriers to entry?
In my opinion, high know-how presents lots of entrants, but the answer said high know-how implies risk. I can’t quite understand this point. Could you please solve this question for me?
Thx!
September 25, 2016 at 8:19 am #341618
Ken Garrett
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High know-how is a barrier to entry. It implies risk (itself a barrier as things can go wrong, so puts people off) and can be expensive to acquire.
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