All of the following are ways a government might protect monopoly rights except:
A. making it illegal to enter an industry.
B. heavy taxation of potential competitors.
C. protecting intellectual property rights.
D. subsidizing a state-owned entity.
Answer: B
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The wage rate for widget makers is currently $25 per hour and Ajax hires 20 widget makers. If the wage rate were decreased to $20, what would happen to the marginal revenue product for labor at Ajax?
A) It would remain the same. B) It would increase since Ajax's demand for labor curve will shift. C) It would increase since the price of widgets would decrease. D) It would decrease since Ajax will hire more workers.
Signaling is
a. actions by the informed party to reveal her true risks b. actions by the informed party to conceal her true risks c. actions by the uninformed party to uncover the true risks d. actions by the uninformed party to conceal the true risks