The type of monopoly that develops as a result of granting patent right is known as
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Correct Answer: Option C
Explanation:
A legal monopoly, also known as a statutory monopoly, is a firm that is protected by law from competitors. Patent rights are exclusive right conferred by a patent. This means only the company with the patent can make or produce the product.
A legal monopoly, also known as a statutory monopoly, is a firm that is protected by law from competitors. Patent rights are exclusive right conferred by a patent. This means only the company with the patent can make or produce the product.