7) Review Table 9.1 from your textbook, which is copied below. Choose one of the Barriers that has a role for government (Number 1, 3, 4, or 5) and answer the questions that follow.

Table 9.1 Barriers to Entry
Barrier to Entry	Government Role?	Example
Natural monopoly	Government often responds with regulation (or ownership)	Water and electric companies
Control of a physical resource	No	DeBeers for diamonds
Legal monopoly	Yes	Post office, past regulation of airlines and trucking
Patent, trademark, and copyright	Yes, through protection of intellectual property	New drugs or software
Intimidating potential competitors	Somewhat	Predatory pricing; well-known brand names

a) Why is government intervention needed? (Are there inefficiencies or costs that might result if the monopolist were allowed to retain its monopoly position?)

b) Are there any benefits to society that might result from allowing the monopolist to retain its monopoly position? If so, describe them.

c) Briefly describe the nature of the government's role. Does it correct the problem you described in part 4a?