Governments create monopolies through patents and copyrights in order to do which of the following?
a. Limit the number of firms in the industry
b. Control what is produced and consumed
c. Encourage innovation of new products and technology
d. Encourage a firm to increase in size
c. Encourage innovation of new products and technology
Economics
You might also like to view...
The rights of state and local government to regulate, license and control businesses were taken away after the American Revolution
Indicate whether the statement is true or false
Economics
Which will cause a larger short-run increase in prices: an anticipated or unanticipated increase in aggregate demand? Will they cause the same increase in prices in the long run?
Economics