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1. Patents A. are a form of trade secret. B. create monopoly power. C. always increase total welfare. D. reduce deadweight loss.

1. Patents A. are a form of trade secret. B. create monopoly power. C. always increase total welfare. D. reduce deadweight loss.

Economics:
Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter25: Monopoly
Section: Chapter Questions
Problem 12E
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1. Patents A. are a form of trade secret. B. create monopoly power. C. always increase total welfare. D. reduce deadweight loss. 2. An example of an essential facility is A. U.S. Route 66. B. your local pizza parlor. C. the telephone line into your house. D. the Golden Gate Bridge.
Transcribed Image Text:1. Patents A. are a form of trade secret. B. create monopoly power. C. always increase total welfare. D. reduce deadweight loss. 2. An example of an essential facility is A. U.S. Route 66. B. your local pizza parlor. C. the telephone line into your house. D. the Golden Gate Bridge.
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