Which of the following would allow an entrepreneur to establish a legal monopoly?
A) Obtain a patent.
B) Become vertically integrated.
C) Get a government permit.
D) Choices a and c are correct.
E) Choices a and b are correct.

Question

Quizplus · Accepted Answer

Obtaining a patent grants an entrepreneur exclusive rights to an invention, creating a legal monopoly. Similarly, acquiring a government permit can grant exclusive rights to operate in certain industries or areas, also establishing a legal monopoly. Vertical integration, while it can lead to market dominance, does not inherently create a legal monopoly.

Which of the Following Would Allow an Entrepreneur to Establish