Patents and copyrights
A)are illegal in the United States
B)reduce barriers to entry in markets
C)protect small firms from large firms
D)lead to increased output and decreased prices
E)provide incentives for firms to engage in research and development

Question

Quizplus · Accepted Answer

Patents and copyrights provide incentives for firms to engage in research and development by granting them exclusive rights to their inventions or creative works for a limited period of time. This allows them to recoup their investment and earn profits, which in turn encourages them to innovate and create more.

Patents and Copyrights