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laklynn carpenter
on Dec 12, 2024

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Which of the following factors is least likely to be a barrier limiting the entry of potential competitors into a market?

A) legally enforced patent rights
B) an inelastic demand for a product
C) licensing
D) control over an essential resource

Patent Rights

Legal protections granted to inventors that give them exclusive rights to make, use, sell, and distribute their inventions for a certain period of time.

Inelastic Demand

A scenario where the product's demand remains largely unaffected despite variations in its price.

Licensing

A requirement that one obtain permission from the government in order to perform certain business activities or work in various occupations.

  • Elucidate the role of barriers to market entry in ensuring a company maintains its market influence.
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Shlok MiglaniDec 18, 2024
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