A patent is a government-imposed entry barrier because

Question

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A patent gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented. This means that no other firm can produce or sell the patented product without permission from the patent holder. This creates a barrier to entry for other firms who may want to enter that particular market, as they cannot produce the same product without infringing on the patent.

A Patent Is a Government-Imposed Entry Barrier Because