Asked by
David Trevino
on Oct 27, 2024Verified
If the state government gave you the exclusive right to sell cement to municipalities,your monopoly would result from:
A) sunk costs.
B) government restrictions to entry.
C) economies of scale.
D) location.
Government Restrictions
Regulations imposed by authorities to control or limit certain activities, behaviors, or operations.
Exclusive Right
A legal provision giving the holder the sole permission to produce, use, or sell a particular commodity or concept.
Cement
A binding agent used in construction that sets, hardens, and adheres to other materials, commonly used to bind sand and gravel in concrete.
- Recognize the role of government restrictions, patents, and control over resources in creating monopolies.
Verified Answer
KS
Learning Objectives
- Recognize the role of government restrictions, patents, and control over resources in creating monopolies.