Which statement about the effects of patents is TRUE?
A) Patents increase the incentive to research and develop new products and also increase competition on the market.
B) Patents increase the incentive to research and develop new products but also increase monopoly power once the products are created.
C) Patents reduce the incentive to research and develop new products but also reduce competition in the market.
D) Patents reduce the incentive to research and develop new products but increase monopoly power once the products are created.
Correct Answer:
Verified
Q181: With possible spillover of ideas, there will
Q182: Which statement is NOT true?
A) Ideas for
Q183: _ grants temporary monopoly rights to an
Q184: Patents allow a firm to enjoy a
Q185: Which is an example of an increase
Q187: Technological advances are generally expected to have
Q188: The most effective incentive for the creation
Q189: R&D spillovers:
A) reward research and development.
B) are
Q190: American culture contributes to economic growth by
Q191: Which is an example of an increase
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