Patents are a barrier to entry.
Answer the following statement true (T) or false (F)
True
Barriers to entry include patents, nonprice competition, control of distribution outlets, and government regulation.
Economics
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For a firm in a perfectly competitive market, a price decrease:
A. lowers the profit-maximizing quantity. B. is unrelated to the profit-maximizing quantity. C. increases the profit-maximizing quantity. D. signifies the firm should leave the market.
Economics
The Full Employment and balanced Growth Act of 1978 formally established a specific unemployment target for the economy of
A. 2%. B. 4%. C. 6%. D. 8%.
Economics