It is argued that high-tech industries typically generate new technologies but cannot fully appropriate the commercial benefits associated with their inventions or discoveries.If this is true then in order to maximize a country's real income,the government should

Question

Quizplus · Accepted Answer

If high-tech industries cannot fully appropriate the commercial benefits of their inventions, there is a risk that they may not invest enough in research and development. Therefore, to encourage high-tech firms to innovate, the government should subsidize them so that they can invest in R&D and new technologies. This can lead to an increase in real income through increased productivity and competitiveness in the global market.

It Is Argued That High-Tech Industries Typically Generate New Technologies