Legal rights such as patents and local, state, or federal licenses can be:
Select one:
a. barriers to entry.
b. barriers to mobility.
c. barriers to exit.
d. none of the above.
Answer : Option (a) is correct
Legal rights such as patents and local, state, or federal licenses can be barriers to entry.
Type Barriers to entry
Legal Restrictions
Licensing Requirements
Patents
High Fixed Cost versus Small Margins
Excess Production Capacity
legal barriers, control over essential inputs, economics of scale
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