A patent grants the inventor the exclusive right to sell their invention, thereby limiting competition and potentially driving up the price of the good. This can make the good more expensive than it would be if there were no patent, but it also incentivizes innovation by ensuring that inventors can profit from their ideas. Thus, a patent both grants a right to the inventor and can make the good more expensive.

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A Patent

Question 20

Multiple Choice

A patent

A) is a right granted to an inventor by the government to be the exclusive seller of a good.
B) makes inventing the good less appealing.
C) makes a good that has recently been invented more expensive than it would otherwise be.
D) is both a right granted to an inventor by the government to be the exclusive seller of a good and makes a good that has recently been invented more expensive than it would otherwise be.

Correct Answer: