Which of these contributes to the existence of monopoly power?
A) the control of critical resources
B) legal barriers
C) patents
D) All of the above contribute to the existence of monopoly power.

Question

Quizplus · Accepted Answer

All of these factors contribute to the existence of monopoly power. Control of critical resources allows a firm to be the sole producer of a certain good or service, legal barriers prevent competitors from entering the market, and patents give the holder exclusive rights for a specific product or technology. All of these factors can limit competition, giving a firm monopoly power.

Which of These Contributes to the Existence of Monopoly Power