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:

Palmaris Longus

A muscle of the forearm that is involved in the flexion of the wrist and can be used as a tendon graft site.

Latissimus Dorsi

A broad, flat muscle on the back that helps with movement of the shoulders and arms.

Pectoralis Major

A large muscle in the upper chest that aids in the movement of the shoulder joint, including flexion, rotation, and adduction of the arm.

Coracobrachialis

A muscle in the shoulder that assists in flexing and adducting the arm.