GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Factors responsible for creating conditions for emergence and growth of monopoly are
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Patents
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Licensing
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Control over strategic raw materials
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All of the above
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Explanation:
Detailed explanation-1: -Answer: Restrictions on Entry and Exit: As a result, a monopoly firm can earn abnormal profits and losses in the long run. These barriers may be due to legal restrictions like licensing or patent rights or due to restrictions created by firms in the form of cartel.
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