Which of the following public policies has (have)the effect of restricting competition?

Question

Quizplus · Accepted Answer

All of the given policies act as barriers to entry for firms looking to enter the market and restrict competition. Licensing restricts the number of firms that can legally operate in a certain industry, while patents grant exclusive rights to produce and sell a certain product or service. Import quotas limit the amount of foreign goods that can be sold in a domestic market, protecting local producers from foreign competition.

Which of the Following Public Policies Has (Have)the Effect of Restricting