Asked by

JONAH DANE BAUTISTA
on Oct 12, 2024

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Each of the following is a legal barrier to entry into an industry except

A) government licensing.
B) patents.
C) government franchising.
D) All of these choices are legal barriers.

Government Licensing

The process by which a government authority grants permission to individuals or businesses to operate within a regulated profession or activity.

Patents

Legal documents granting inventors exclusive rights to their inventions for a certain period, preventing others from making, using, or selling the invention without permission.

Government Franchising

A method whereby the government grants a private entity the right to operate a public service or business within a certain territory or function.

  • Understand legal barriers to entry and their impact on monopoly power.
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LH
Lizette HernandezOct 14, 2024
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