Which of the following statements regarding patents is false?
A) Patents can help firms gain market power through innovation and then act as a barrier to entry.
B) A firm that has market power as a result of a patent may be more likely to innovate than a perfectly competitive firm.
C) Patents encourage the production of information, which might otherwise be under supplied.
D) Patents can last for an indefinite time period.
Correct Answer:
Verified
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