Which of the following is true of a patent in the United States?
A) It reduces a firm's incentive to develop new products.
B) It is issued in recognition of new works of art or literature.
C) It gives a firm a permanent exclusive right to produce a particular good.
D) It gives a firm a temporary exclusive right to produce a particular good.
E) It guarantees economic profits to a firm in the long run.
Correct Answer:
Verified
Q1: Which of the following describes a monopolized
Q2: A natural monopoly forms when a firm
Q4: A monopoly is the _ supplier in
Q5: Patents stimulate investment _
A)by giving inventors an
Q6: A natural monopoly forms when _
A)small firms
Q7: A monopolist's demand curve is _
A)its marginal
Q8: Which of the following prevents potential competitors
Q9: A monopolist's demand curve is _
A)horizontal.
B)vertical.
C)downward sloping.
D)upward
Q10: Which of the following is not an
Q11: Which of the following is not a
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