An example of a government-imposed barrier to entry gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented.This entry barrier is known as

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The exclusive right to a new product for a period of 20 years from the date the product is invented is known as a patent. This is a government-imposed barrier to entry that restricts other firms from producing or selling the same product without permission from the patent holder. Patents are often used to protect innovative ideas and products from imitation, and to encourage firms to invest in research and development.

An Example of a Government-Imposed Barrier to Entry Gives a Firm