True or false: monopoly

Exercise and reference answers

Questions

1. Statement is true

   No

   Statement

   A patent lasts forever once granted.

2. Statement is true

   Yes

   Statement

   Copyright runs for the author's life plus 70 years.

3. Statement is true

   Yes

   Statement

   Controlling a scarce resource can create a monopoly.

4. Statement is true

   Yes

   Statement

   Barriers to entry can be technological as well as legal.

5. Statement is true

   No

   Statement

   Deregulation adds new legal barriers to entry.

Instructions

Tap True or False for each statement.

Explanation