Examlex
List the reasons why private prisons can be run more cheaply than public prisons in the American correctional system.
Exclusive Right
A legal privilege that allows the holder to be the sole individual or entity with the authority to utilize, produce, or sell a particular product or service.
Copyrights
Legal rights granted to creators for the protection of their original works, including literary, musical, artistic, and certain other intellectual works.
Barriers to Entry
Restrictions or obstacles that prevent new competitors from easily entering an industry or area of business.
Unlimited Market Power
A hypothetical situation where a company or entity can set the market price for its product without any competitive constraint.
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