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) monopolistic competition
B) perfect competitive
C) pure monopoly
D) oligopoly

Question

Quizplus · Accepted Answer

Xerox holds all the patents on the process for producing dry-paper copiers, which means that there are no competitors in the market. Therefore, it can be categorized as a pure monopoly.

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