Patent Laws Promote Technical Progress in All of the Following

question 212

Multiple Choice

Patent laws promote technical progress in all of the following ways except one.Which is the exception?

• A)They allow other firms to copy successful products as soon as they are marketed.
• B)They prevent duplication of inventions.
• C)They provide a stimulus to innovation.
• D)They provide the inventor with a temporary monopoly.
• E)They increase a firm's incentive to incur the up-front costs of developing new products.

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Definitions:

Foreclosure

The legal process by which a lender takes possession of a property used as collateral for a loan due to failure of the borrower to meet the repayment terms.

Deficiency

The shortfall amount between a debt owed and the proceeds from the sale of assets pledged to secure the debt.

Surplus

The amount of an asset or resource that exceeds the portion that is utilized.

Pennsylvania System

A penal system based on solitary confinement and rehabilitation of the prisoner.