Patent and copyright laws encourage
A)creative activity.
B)lower prices due to decreasing average total costs.
C)competition among firms.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

Patent and copyright laws provide legal protection to creators and innovators, which encourages them to invest time and resources in creating new ideas and works. This ultimately leads to more creative activity and innovation in society. Copyright laws also protect the economic rights of creators by allowing them to control the commercial use of their works, which can incentivize them to create and distribute their works to the public. Therefore, option A is correct. Options B and C are not correct because patent and copyright laws do not necessarily lead to lower prices or increased competition.

Patent and Copyright Laws Encourage