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:

Correct Phylum

The accurate classification of an organism within the biological hierarchy based on shared characteristics or traits, ensuring proper identification and understanding of its evolutionary relationships.

Trichina Worms

Parasitic roundworms of the genus Trichinella that can infect humans and other mammals through consumption of undercooked contaminated meat.

Organism

A living entity made up of one or more cells that is capable of growing, reproducing, responding to its environment, and, in many cases, moving.

Ctenophora

Also known as comb jellies, a phylum of invertebrate marine animals characterized by their gelatinous bodies and rows of ciliary plates for locomotion.