Ordinarily, governments attempt to promote competition in markets.Why do governments use patents to block entry into some markets when this prohibits competition?

Question

Quizplus · Accepted Answer

Patents are used to incentivize firms to invest in research and development to create new products. Without protection, other firms may simply copy the product and sell it at a lower price, discouraging innovation. While patents do limit competition in the short term, they are intended to encourage competition in the long term by promoting innovation.

Ordinarily, Governments Attempt to Promote Competition in Markets