Why does the government sometimes give monopoly power to a company by issuing a patent?
(A) The government does not want competition for the product.
(B) The company pays the government for the patent.
(C) The company can then profit from their research without competition.
(D) The company makes a product better than anyone else's.
Answer: The company can then profit from their research without competition.
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In the aggregate expenditure (AE) model, when real GDP exceeds aggregate planned expenditure, actual inventories ________ planned inventories and real GDP ________
A) are less than; decreases B) exceed; increases C) exceed; does not change D) are less than; increases E) exceed; decreases
As used in this text, "autonomous" variables are
A) spontaneous variables that are completely unpredictable. B) completely independent of income, although they can be explained by movements in other variables. C) determined only by income levels. D) the same as endogenous variables.