An Example of a Government-Imposed Barrier to Entry Gives a Firm

question 169

Multiple Choice

An example of a government-imposed barrier to entry gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented.This entry barrier is known as

• A)a copyright.
• B)a patent.
• C)an exclusive marketing agreement.
• D)a tariff.

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Definitions:

Irrational

Lacking reasonable or logical basis; actions or thoughts that are not in alignment with reasonable or sensible thinking.

Aggressive

Pertaining to behavior characterized by assertiveness, hostility, or an intention to cause harm.

Pessimistic Belief

A mindset inclined to see the worst aspect of things or believe that the worst will happen; a lack of hope or confidence in the future.

Present Circumstances

The present state or circumstances experienced by an individual or collective.