A monopoly, unlike a perfectly competitive firm, has some market power. Thus, it can raise its price, within limits, without quantity demanded falling to zero. The main way monopolies retain their market power is through barriers to entry, which prevent other companies from entering monopolized markets and competing for customers. Consider the market for electronics. Patents are granted to inventors of products or processes for a certain number of years to encourage innovation. Without patents, research and development needed to improve electronics are unlikely to occur, as nothing would then prevent other firms from stealing ideas and copying products.Which of the following best explains the barriers to entry that exist in this scenario?a. Control over an important inputb. Legal barriersc. Increasing returns to scale

Question

01-01-2021
Business

Answered

Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

A monopoly, unlike a perfectly competitive firm, has some market power. Thus, it can raise its price, within limits, without quantity demanded falling to zero. The main way monopolies retain their market power is through barriers to entry, which prevent other companies from entering monopolized markets and competing for customers. Consider the market for electronics. Patents are granted to inventors of products or processes for a certain number of years to encourage innovation. Without patents, research and development needed to improve electronics are unlikely to occur, as nothing would then prevent other firms from stealing ideas and copying products.Which of the following best explains the barriers to entry that exist in this scenario?a. Control over an important inputb. Legal barriersc. Increasing returns to scale

Sagot :

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.

if z varies inversely as w, and z=5 when w=8, find z when w=10

Which accurately describes English settlements in North America before 1600? A. successes B. failures C. some successes, some failures D. no attempts before 160

Why were the native americans so important in the clash between the french and British? explain which side, french or British , received the best advantage with

soviet tanks and troops were sent to crush a democratic , anti-communist revolution in 1956 in? a) Romania b) czeoslovakia c) hungary d) bulgaria

Explain how you can find the simplest form of 100 over 1000

What was a global effect of the Great Depression? A: It helped increase agricultural prices B: It helped to avoid another war C: It increased the global job mar

Lena has some eggs.she uses 3/5of the eggs to make waffles and scrambled eggs.she uses 2/3 of the eggs she took to make waffles. What fraction of the total numb

A nation that has new or emerging industry, minimal infrastructure, and widespread poverty is generally referred to as a(n) ____________. a. industrialized nati

The product of a number and it's _____ is one

Raul has 56 bouncy balls. he puts three times as many balls into red gift bags as he puts into green gift bags. if he puts the same number of balls into each ba