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Which of the following could be considered barriers to entry that would prevent potential competitors from entering a monopoly market?
Select the two correct answers below.
a) patent and copyright laws
b) few workers in the industry
c) extremely high demand for a certain product
d) ownership of a critical factor of production

Respuesta :

Answer:

a) patent and copyright laws

d) ownership of a critical factor of production

Explanation:

a monopoly is when there is only one firm operating in an industry.

the different reasons why monopoly exists are :

ownership of a key resource. this is natural monopoly

high start up cost

legal barriers - patent and copyright laws

Economies of scale.

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