Asked by
Adelisa Mustafi
on Nov 16, 2024Verified
If the ABC company owns the exclusive rights to mine land in Afghanistan for Lapis Lazuli, a rare stone used in jewelry which is found only in Afghanistan, the company benefits from a barrier to entry.
Barrier to Entry
Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.
Exclusive Rights
Legal rights granted to individuals or firms, limiting others from reproducing, publishing, or selling particular goods or services.
- Elucidate the impact of owning exclusive rights on the creation of a monopoly.
Verified Answer
CW
Learning Objectives
- Elucidate the impact of owning exclusive rights on the creation of a monopoly.
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