If a Producer Wants a Monopoly with a Legal Barrier

question 3

Multiple Choice

If a producer wants a monopoly with a legal barrier to entry,how can this be done?
i.The producer can spend funds lobbying to attain passage of the legal barrier to entry.
ii.The producer can purchase an existing monopoly.
iii.The producer can make rent seeking expenditures.

• A) i and ii
• B) i and iii
• C) ii and iii
• D) i, ii, and iii
• E) None of the above are ways to acquire a monopoly with a legal barrier to entry.