Which of the Following Is Not a Reason for the Existence

question 645

Multiple Choice

Which of the following is not a reason for the existence of a monopoly?

• A)sole ownership of a key resource
• B)patents
• C)copyrights
• D)diseconomies of scale

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Definitions:

Patent

A legal right granted by the government to an inventor for a certain period of time, allowing them to exclude others from making, using, selling, or distributing the patented invention without permission.

Renewed

The act of extending the period of validity or effectiveness of something, such as a license, subscription, or agreement.

Trade Secret

A type of intellectual property consisting of a practice, design, formula, process, or compilation of information not generally known or reasonably ascertainable, by which a business can gain an economic advantage over competitors or customers.

Unfair Competition

Business practices that are deceptive, fraudulent, or otherwise harmful to consumers or other businesses, leading to an uneven playing field.