The patent system is used to ______.
a. help innovative firms prosper and promote investment in R & D.
b. prevent companies who make inventions from becoming too profitable
c. decrease investment in R & D and slow the unfettered growth of technology
d. combat overproduction and reduce the damage of negative externalities
a. help innovative firms prosper and promote investment in R & D.
Economics
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According to the Solow model, technological progress will cause output to increase for two reasons. What are these two reasons?
What will be an ideal response?
Economics
Private goods are those for which consumption is
A) rival and excludable. B) rival and nonexcludable. C) nonrival and excludable. D) nonrival and nonexcludable.
Economics