Asked by Cooper Lumsden on Jun 24, 2024

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Temporary monopolies via the provision of sole ownership rights to profit from the production,use,or sale of a good are provided by:

A) patents and copyrights.
B) natural monopolies.
C) profit-maximizing behavior.
D) network externalities.

Patents And Copyrights

Legal instruments that offer creators exclusive rights to their inventions (patents) and artistic works (copyrights) to protect and profit from their creations.

Temporary Monopolies

A situation where a firm has exclusive control over the market for a product or service for a limited period, often due to patents or innovations.

Sole Ownership Rights

Exclusive legal entitlements granting the owner control over the use, development, and sale of property or intellectual assets.

  • Identify the effects of barriers to entry on market structures and competition.
  • Recognize the role of government regulations, patents, and copyrights in creating or sustaining monopolies.
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DS
Dasani StallworthJun 30, 2024
Final Answer :
A
Explanation :
Patents and copyrights provide temporary monopolies by granting exclusive rights to produce, use or sell a specific product or technology for a certain period of time. This is done to incentivize innovation and protect intellectual property. Natural monopolies arise when economies of scale are so large that one company can provide the entire market demand at a lower cost than multiple firms. Profit-maximizing behavior and network externalities do not necessarily involve the provision of sole ownership rights.