To have a monopoly in an industry there must be
A) a public franchise, making the monopoly the exclusive legal provider of a good or service.
B) an inelastic demand for the industry's product.
C) barriers to entry so high that no other firms can enter the industry.
D) a patent or copyright giving the firm exclusive rights to sell a product for 20 years.
Question 2
The De Beers Company blocked competition
A) by controlling the supply of most of the world's high-quality bauxite, the mineral used to produce aluminum.
B) in the diamond market by controlling the output of most of the world's diamond mines.
C) in the market for fresh and frozen cranberries because it controls about 80 percent of the cranberry crop.
D) because it has lower production costs than other department stores due to economies of scale.
The procedure for making a karyotype.
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