Encouraging firms to invest in research and development and individuals to engage in creative endeavours such as writing novels is one justification for:
A)natural monopolies
B)government-created monopolies
C)resource monopolies
D)innovation

Question

Quizplus · Accepted Answer

Government-created monopolies, such as patents, can encourage investment in research and development and creative endeavors by providing exclusive rights to innovators, thus incentivizing the creation of new products, technologies, or works of art.

Encouraging Firms to Invest in Research and Development and Individuals