Which of the following is true?
a. Patents reduce a firm's incentive to develop new products.
b. Patents are given for new works of art or literature.
c. Patents give a permanent exclusive right to produce a new good.
d. Patents give a temporary exclusive right to produce a new good.
e. Patents guarantee economic profits.
D
Economics
You might also like to view...
Which of the following losses to an individual would an insurance company NOT cover?
A) The person's automobile is stolen. B) Fire destroys the person's home. C) The person's father dies. D) The person's country is invaded.
Economics
Refer to the graph shown. The short-run equilibrium output level for the monopolistically competitive firm represented is:
A. 900. B. 1,000. C. 500. D. 300.
Economics