What Type of Monopoly is Based on Ownership of a Manufacturing Method or Other Scientific Process?

Explanation:

Technological monopoly is the correct answer. Technological monopoly occurs when a company holds exclusive control over a specific method of production, manufacturing process, or scientific innovation. This type of monopoly is driven by the ownership of intellectual property rights, such as patents, copyrights, or trade secrets.

Technological monopolies are often created by companies that invest heavily in research and development to create unique products or processes that give them a competitive edge in the market. By owning the rights to these innovations, they can prevent others from replicating their technology, thereby maintaining a monopoly position.

In contrast, a natural monopoly arises when a single company can produce goods or services at a lower cost than multiple companies operating in the same industry. Geographic monopolies occur when a company is the sole provider of goods or services in a specific geographic area. Government monopolies are established and regulated by the government.