Answer Happy

Fred is a scientist who has developed a new and unique medicinal
drug. He has been able to secure a patent (legal copyright) for his
new drug. Competitors are legally blocked from manufacturing
and selling this new drug Fred has developed while his patent is in
place.
Which of the following statements is true?
Fred’s competitors can legally manufacture and sell this new
drug Fred developed while his patent is in place.
The market for Fred’s new drug will be perfectly
competitive.
The patent is an immediate threat for Fred’s new drug that will
destroy his monopoly power.
Fred will be able to exert monopoly power
when pricing his new drug.