Final answer:
A government granted monopoly through a patent is a form of market power that gives the inventor the exclusive right to make, use, or sell an invention for a limited time, which is true.
Option 'a' is the correct.
Step-by-step explanation:
A government granted monopoly on the production and sale of an invention given to the inventor is indeed an example of market power.
The primary tool for this is a patent, which is a government rule that gives the inventor the exclusive legal right to make, use, or sell the invention for a limited time. This is aimed at promoting innovation by allowing the inventor to recoup the costs associated with research and development (R&D).
In the United States, for example, exclusive patent rights last for 20 years. This limited monopoly power encourages investment in R&D since firms can be assured that they can earn profits from their inventions without immediate competition. However, once the patent expires, other firms can produce the product, which can lead to lower prices and wider access for consumers.
Thus, the answer to the question is True. A government granted monopoly through a patent is indeed a form of market power designed to stimulate progress in science and useful arts, according to the Constitution of the United States, Article I, Section 8.