Name some of the barriers to entry that can be created by a competitive firm to protect ...

[Answer to ques. #1]  The following are some ways in which firms can delay the entry of competitors and extend profits over time:
a) Growing size and investment in specific assets.
b) Creating brand names and trademarks
c) Building healthy public relations
d) Influencing the government

[Answer to ques. #2]  c

[Answer to ques. #3]  A franchise agreement specifies the obligations of the two parties in accordance with their individual skills. For example, the parent organization can use its familiarity with the national market to design and finance more effective advertising, and it can use bargaining power over large volumes to negotiate low prices for supplies used in the outlets. On the other side a franchisee whose personal income rises with his outlet's might make more sales effort than a salaried employee of the parent. The owner may also have better information about local opportunities than the parent. If both parties keep the agreement their combined efforts will help them compete against other vertical chains in their market.

[Answer to ques. #4]  b

[Answer to ques. #5]  Antitrust laws treat agreements that could lessen competition using a rule of reason standard intended to balance the possible competitive benefits it produces against the potential costs. Agreements like naked price fixing are per se violations of antitrust law, automatically treated as illegal if detected.

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