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To have a monopoly in an industry there must be Question 9 options: an inelastic demand for the industry's product. a public franchise, making the
To have a monopoly in an industry there must be Question 9 options: an inelastic demand for the industry's product. a public franchise, making the monopoly the exclusive legal provider of a good or service. a patent or copyright giving the firm exclusive rights to sell a product for 20 years. barriers to entry so high that no other firms can enter the industry
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