Patents and copyright law
A) are natural barriers.
B) create more competition.
C) mean more varieties of goods and services at different price levels.
D) assure inventors that no one else will sell their ideas.
E) always result in zero economic profits.

Question

Quizplus · Accepted Answer

Patents and copyright laws give inventors and creators exclusive rights to their inventions and creations for a certain period, thereby assuring them that no one else will sell their ideas, and hence making it easier for them to make a profit. This encourages innovation and creativity as people can invest in research and development knowing that they can reap the benefits of their work.

Patents and Copyright Law