A patent is a government-imposed entry barrier because
A) it is a key input owned by the firm that is granted the patent.
B) it allows a firm to achieve economies of scale.
C) it gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented.
D) it limits the quantity of a good that can be imported into a country.
C
Economics
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Explain why Hong Kong has experienced faster economic growth than the United States
What will be an ideal response?
Economics
The payoffs for financial derivatives are linked to
A) securities that will be issued in the future. B) the volatility of interest rates. C) previously issued securities. D) government regulations specifying allowable rates of return.
Economics