1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vlad1618 [11]
3 years ago
15

A monopoly, unlike a perfectly competitive firm, has some market power. Thus, it can raise its price, within limits, without qua

ntity demanded falling to zero. The main way monopolies retain their market power is through barriers to entry, which prevent other companies from entering monopolized markets and competing for customers. Consider the market for computer technology. Patents are granted to inventors of products or processes for a certain number of years to encourage innovation. Without patents, research and development needed to improve computer technology are unlikely to occur, as nothing would then prevent other firms from stealing ideas and copying products. Which of the following best explains the barriers to entry that exist in this scenario?
Exclusive ownership of a necessary resource

Legal barriers

Increasing returns to scale
Business
1 answer:
yanalaym [24]3 years ago
7 0

Answer:

The correct answer is: legal barriers.

Explanation:

A monopoly is a market structure where there is only a single firm, there is a restriction on the entry of firms. This gives firms a certain degree of market power.  

The monopolies are able to retain their market power through restrictions on the entry of other potential firms. These restrictions are of different types such as exclusive ownership of a resource, legal barriers, increasing returns to scale.  

In this particular scenario of patents, the barrier to entry is a legal barrier. The other potential firms are legally restricted to enter the market as they do not hold a patent.

You might be interested in
The technology involved in RFID (Radio Frequency Identification) has traditionally been used to ______.
Nookie1986 [14]

Answer:

d) manage inventory prior to items reaching the sales floor

Explanation:

RFID (Radio Frequency Identification) systems transferred inventory management as pioneers in automatic identification. Prior RFID, the warehouse workers had to manually check items through barcodes. Therefore, RFID transformed the whole inventory segment.

Afterward came the other applications of RFID.

8 0
3 years ago
Do managers in both small and large companies perform similar types a activities
Amiraneli [1.4K]
The manager of the larger company's manager might have more to do because of the size of the company, but I believe that they would do most of the same tasks. Think of it like this: Would a Dollar General manager do more than a Microsoft manager?
4 0
3 years ago
Read 2 more answers
Paul White, the CFO of Crane Automotive, Inc., is putting together this year's financial statements. He has gathered the followi
IrinaVladis [17]

Answer: $170,421

Explanation:

Using the Accounting equation;

Assets = Liabilities + Equity

Assets = Cash + Inventory + Goodwill and other assets + Net plant and equipment + Accounts receivable + Other current assets

= 23,015 + 212,300 + 78,656 + 713,500 + 141,258 + 11,223

= $1,179,952

Equity

= Common stock + Retained earnings

= 313,000 + 512,159

= $‭825,159‬

Liabilities = Assets - Equity

Current Liabilities + Long term debt = Assets - Equity

Long term debt = Assets - Equity - Current Liabilities

= 1,179,952 - ‭825,159‬ - (163,257 + 21,115)

= $170,421

6 0
3 years ago
3 · 32 + 8 ÷ 2 − (4 + 3)<br><br> A. <br> 30<br> B. <br> 23<br> C. <br> 24<br> D. <br> 32
JulsSmile [24]

3. The answer is 24 [c]

4 0
3 years ago
To adjust for rent used up during the year that was recorded to the prepaid rent account when paid for, Multiple choice question
EleoNora [17]

To adjust for rent used up during the year that was recorded to the prepaid rent account when paid for;

  • Rent expense is debited, prepaid rent is credited

<h3>Prepaid rent account</h3>

A prepaid rent account simply a current asset account that's responsible for reporting the amount of future rent expense that was paid in advance of the rental period.

On this note, the amount reported on the balance sheet is the amount that has not yet been used or expired as of the balance sheet date.

Read more on prepaid rent account;

brainly.com/question/1202504

6 0
2 years ago
Other questions:
  • The balance sheet of Cattleman's Steakhouse shows assets of $86,800 and liabilities of $15,300. The fair value of the assets is
    9·1 answer
  • What US government agency creates and enforces standards for workplace health and safety?
    7·2 answers
  • Orange Banking Group, a corporation that has a global presence, is seeking to hire employees for its IT team. Among the availabl
    9·1 answer
  • Why is there a meat surplus and what does that mean for us when going to the grocery?
    8·1 answer
  • During its first year of operations, Silverman Company paid $14,000 for direct materials and $19,000 for production workers' wag
    7·1 answer
  • National Geographic is replacing an old printing press with a new one. The old press is being sold for $350,000 and it has a net
    9·1 answer
  • Aggregate planning is capacity planning that typically covers a time horizon of one to three months. True or false?
    8·1 answer
  • The AFL was an organization
    13·1 answer
  • Phone regularly prices its products at cost plus a 40 percent markup for profit. Smart prices its sales at cost plus a 20 percen
    10·1 answer
  • The most important tax rate for determining an individual's incentive to work is the _____ tax rate.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!