For a time,only Xerox could produce dry-paper copiers because Xerox held all the patents on the process.Until the patents expire,Xerox could be said to operate in which type of market structure?
A) imperfect competitive
B) purely competitive
C) monopolistic
D) noncompetitive oligopoly

Question

Quizplus · Accepted Answer

A monopolistic market structure exists when there is only one supplier of a particular good or service, or when one supplier has a significant competitive advantage over all other suppliers. In this case, Xerox held all the patents on the process for producing dry-paper copiers, giving them a virtual monopoly over the market. The fact that no other companies could produce dry-paper copiers indicates that the market was not perfectly competitive or noncompetitive oligopoly.

For a Time,only Xerox Could Produce Dry-Paper Copiers Because Xerox