Which of the following statements about barriers to entry is false?
A)They restrict entry into industries in which positive economic profits are being made.
B)They are somewhat lessened by the existence of patents.
C)They may be due to legal impediments such as licenses.
D)They may be due to a single firm controlling access to a natural resource or production process.

Question

Quizplus · Accepted Answer

Patents actually increase barriers to entry by granting a monopoly on the use and production of a specific invention or process for a limited period of time.

Which of the Following Statements About Barriers to Entry Is