Asked by
Deacon Medders
on Nov 05, 2024
Verified
DeBeers' diamond monopoly results from
A) economies of scale.
B) a patent.
C) a government franchise.
D) ownership of a scarce factor of production.
Scarce Factor
A resource or input in limited supply relative to demand, which can constrain production, increase costs, or cause competition.
Diamond Monopoly
A diamond monopoly refers to a market structure where a single firm has exclusive control over the production and sale of diamonds.
- Recognize the different types of barriers to entry that sustain monopolies.
Verified Answer
RG
Learning Objectives
- Recognize the different types of barriers to entry that sustain monopolies.
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