Question

Legal rights such as patents and local, state, or federal licenses can be: Select one: a....

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.

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Homework Answers

Answer #1

Answer : Option (a) is correct

Legal rights such as patents and local, state, or federal licenses can be barriers to entry.

  • Obstacles to protect an established firm from potential competition

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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