An Example of a Government-Imposed Barrier to Entry Gives a Firm

question 169

Multiple Choice

An example of a government-imposed barrier to entry gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented.This entry barrier is known as

• A)a copyright.
• B)a patent.
• C)an exclusive marketing agreement.
• D)a tariff.

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Definitions:

Degradation

The process by which a compound is broken down or decomposed, often into simpler substances, sometimes leading to a loss of quality or function.

mRNA

Messenger RNA (mRNA) is a type of RNA that carries genetic information from DNA to the ribosome, where it directs the synthesis of proteins.

Deoxyribose

Pentose sugar lacking a hydroxyl (—OH) group on carbon-2′; a constituent of DNA.

Hydroxyl Group

A functional group consisting of an oxygen atom bonded to a hydrogen atom (-OH), which is found in alcohols and many other organic molecules.