To Have a Monopoly in an Industry There Must Be

question 188

Multiple Choice

To have a monopoly in an industry there must be

• A)barriers to entry so high that no other firms can enter the industry.
• B)a patent or copyright giving the firm exclusive rights to sell a product for 20 years.
• C)an inelastic demand for the industry's product.
• D)a public franchise, making the monopoly the exclusive legal provider of a good or service.

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Definitions:

Alphabet Letters

The basic written symbols in an alphabetic system that represent the phonemes of a spoken language.

Climacteric

A phase in the aging process marking the transition from the reproductive phase to the non-reproductive years in both men and women, often associated with menopause in women.

Menstrual Periods

The monthly shedding of the uterine lining in females of reproductive age, marked by bleeding through the vagina.

Hot Flashes

Sudden feelings of warmth, often over the face, neck, and chest, that can occur during menopause.