An exclusive legal right as sole producer for 20 years granted to an inventor of a product is called a
A) copyright.
B) franchise.
C) patent.
D) license.
Correct Answer:
Verified
Q129: The nondiscriminating pure monopolist must decrease price
Q130: Which of the following is a barrier
Q131: One feature of pure monopoly is that
Q132: A monopoly is most likely to emerge
Q133: "Price makers" refers to firms that
A) face
Q135: A pure monopoly firm will never charge
Q136: Which of the following is not a
Q137: Natural monopolies result from
A) patents and copyrights.
B)
Q138: One major barrier to entry under pure
Q139: Given a downward-sloping linear demand curve, if
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