Asked by Abigail Costiniano on Jun 11, 2024
Verified
Each of the following is a legal barrier to entry into an industry except
A) licensing.
B) patents.
C) government franchises.
D) brand names.
Legal Barrier
Any law or regulation that limits or controls the entrance of a firm into an industry or the launch of a new product.
Licensing
A regulatory process that allows individuals and companies to operate legally in a professional field or to sell particular goods and services.
Patents
Legal rights granted to inventors to exclusively exploit their inventions for a certain period.
- Investigate the economic reasons supporting the existence of patents and monopolies authorized by the government.
Verified Answer
Learning Objectives
- Investigate the economic reasons supporting the existence of patents and monopolies authorized by the government.
Related questions
There Are Only Two Justifications for Monopoly: ______________ and _____________ ...
DVDs Can Be Produced at a Constant Marginal Cost of ...
In Late 2008,Wal-Mart Agreed to Settle 63 of the Over ...
The Legal Cartel Theory Indicates That in Any Industry Where ...
If a Market Is Defined More Broadly, Then the Chances ...