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Given the problems associated with​ monopolies, explain why the government grants monopolies in the form of...

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Economics

Given the problems associated with​ monopolies, explain why thegovernment grants monopolies in the form of patents and copyrights.What would happen without these government granted​ monopolies

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A governmentgranted monopoly and the monopoly to be served under government is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service potential competitors are excluded from the market by law regulation or other mechanisms of government enforcement As a form of coercive monopoly governmentgranted monopoly is contrasted with a coercive monopoly or an    See Answer
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