There Exist Only Two Causes of Monopoly: Barriers to Entry

question 158

True/False

There exist only two causes of monopoly: barriers to entry and government restrictions.

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Definitions:

Innovations

The introduction of new ideas, methods, or products aimed at improving processes, enhancing efficiency, or solving problems.

Technology

The application of scientific knowledge for practical purposes, especially in industry and in our daily lives.

Cultural Tools

Artifacts, symbols, and technologies that a culture creates, which play a crucial role in the cognitive development and socialization of its members.

Transform

To make a thorough or dramatic change in the form, appearance, or character of something.