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:

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, driving evolutionary change.

Breeder

An individual or entity that engages in the propagation of animals or plants, especially to enhance certain desired characteristics.

Dark-Colored Fish

Fish species that have darker shades of body coloration, often found in deeper waters or environments where such coloring provides camouflage or attracts mates.

Golden Retrievers

A popular dog breed known for their friendly, tolerant attitude, and intelligence.