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The Patent System Is Based on the Theory That

Question 16

Multiple Choice

The patent system is based on the theory that


A) innovation is risky and those who take risks deserve rewards.
B) a monopoly's lifespan should be controlled and limited.
C) technological advances should be shared throughout an industry.
D) monopoly is the most socially desirable market structure and should be supported.
E) patents create incentives to keep prices at competitive levels.

Correct Answer:

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