An exclusive right to sell a new and useful product, process, ...

[sdfghj]

An exclusive right to sell a new and useful product, process, substance, or design for a fixed period of time is called a
 
  A) patent.
  B) barrier to entry.
  C) monopoly.
  D) research disincentive.

Question 2

In deciding whether to operate in the short run, the firm must be concerned with the relationship between price of the output and
 
  A) total cost.
  B) average variable cost.
  C) total fixed cost.
  D) the number of buyers.

[whitcassie]

Answer to Question 1

A

Answer to Question 2

B