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In page Monopoly:

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In addition to barriers to entry and competition, barriers to exit may be a source of market power. Barriers to exit are market conditions that make it difficult or expensive for a company to end its involvement with a market. High liquidation costs are a primary barrier to exiting.[9] Market exit and shutdown are sometimes separate events. The decision of whether to shut down or operate is not affected by exit barriers.[citation needed] A company will shut down if the price falls below minimum average variable costs.