A patent turns a new idea into which of the following goods?
A)a public good, which increases the incentive to engage in research
B)a public good, which decreases the incentive to engage in research
C)a private good, which increases the incentive to engage in research
D)a private good, which decreases the incentive to engage in research

Question

Quizplus · Accepted Answer

A patent turns a new idea into a private good by granting exclusive rights to the inventor or holder of the patent. This exclusive right increases the incentive to engage in research by allowing the inventor to profit from their innovation without fear of competition.

A Patent Turns a New Idea into Which of the Following