The justification for the patent system is that it
a. protects desirable monopolies
b. encourages innovation
c. discourages the development of substitute goods
d. guarantees high profit for the monopolies so that they can use the profit as a source for research and development
e. discourages competition
B
Economics
You might also like to view...
If expansionary fiscal policies in theUS lead to increased budget deficits what will happen to real interest rates in the US and the value of the dollar?
a. increase; increase b. increase; decrease c. no change; decrease d. decrease; increase e. decrease; decrease
Economics
Game theory assumes that to compute the likely outcome of games, one needs to assume that players act
a. Rationally b. Optimally c. In their own self-interest d. All the above
Economics