Asked by
Ashlynn Powell
on Nov 05, 2024
Verified
Barriers to entry include network externalities and patents.
Network Externalities
The effect that the number of users of a product or service has on the value of that product to others, often leading to increased utility as more people use it.
Patents
Legal documents granting exclusive rights to inventors for their creations, preventing others from making, using, or selling the invention for a certain period of time.
- Determine and clarify the impediments to entering monopolistic markets.
Verified Answer
MR
Learning Objectives
- Determine and clarify the impediments to entering monopolistic markets.