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Seinfeld Economics: The Maestro

by Linda Ghent

Barriers to entry are conditions or circumstances that make it very difficult or unacceptably costly for outside firms to enter a particular market to compete with the established firm or firms that are already selling the good or service involved.

Monopoly power is the ability of a firm to alter the market price of the good or service it sells.



Seinfeld: The Maestro

Kramer has sneaked coffee into a theater, where he spills it on himself. While consulting with his lawyer, Jackie Chiles, they discuss the theater's monopoly on concessions. (This is a great place to discuss David Friedman's and Steven Landsburg's take on why movie theater popcorn is so expensive.)

from Seinfeld, Season 7 (1995)
Creator: Larry David & Jerry Seinfeld
Posted by Linda Ghent