Ask Question
BusinessBusiness
22 June, 19:28

Which of the following markets has a barrier to entry? A. There are already many fast food restaurants in the City of Buffalo. B. Stan's Garbage Company runs the only trash collection service in town. C. Crystal develops a new product and patents it. D. Gold can only be mined in certain places in the world.

+4
Answers (1)
  1. 22 June, 22:30
    0
    Answer: C. Crystal develops a new product and patents it.

    Explanation:

    A Patent is one of the ways that a monopoly can be formed in an industry. A Patent is a government issued guarantee that other entities should not tamper with the product that was patented unless they get permission from the patentee to do so.

    Patents in the United States usually last for 20 years and in that time only the people who patented it may use it. This is a Government enforced barrier to entry as other companies cannot make the product in question thereby creating a monopoly for the people that did patent it.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following markets has a barrier to entry? A. There are already many fast food restaurants in the City of Buffalo. B. Stan's ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Three methods the government can use to cope with the external cost from pollution are
Answers (1)
Levine Inc., which produces a single product, had prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at $3.30 per pound) $26.40 Direct labor (1 hour at $12.00 per hour) $12.
Answers (1)
As their financial advisor what part of jim and Jack financial plan would you encourage them to work on
Answers (1)
EB11. LO 2.3Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month plus a charge for each mile driven. Able Transport drove the tour bus 4,000 miles and paid a total of $1,250 in March.
Answers (1)
For several years, a professor at Johns Hopkins University had been using the following grading scheme for his final exam: He would give an A to the student with the highest score.
Answers (1)
New Questions in Business
What is an over-zealous speaker?
Answers (1)
The amount of fica tax that employers must pay is twice the amount of the fica taxes withheld from their employees. true or false
Answers (1)
Joe tells you, "I'm concerned that if a Theo Chocolate manager is doing something unethical, I'm not going to hear about it." He asks, "What can I do to encourage employees to speak up if they see something wrong?" What advice would you give him?
Answers (1)
A company determines the cost of goods sold each time A. a sale occurs in a periodic inventory system only. B. a perpetual inventory system only. C. both a periodic and perpetual inventory system. D. neither a periodic nor perpetual inventory system.
Answers (1)
Sarah, a manager at Ackles Inc, plays pranks on her subordinates in an attempt to make the workplace livelier. She trusts her subordinates and does not care much about the quality of their work.
Answers (2)
Home » Business » Which of the following markets has a barrier to entry? A. There are already many fast food restaurants in the City of Buffalo. B. Stan's Garbage Company runs the only trash collection service in town. C. Crystal develops a new product and patents it.
Sign Up Forgot Password?