Patents and Copyrights Provide Some Degree of Market Power to Holders

question 43

Multiple Choice

Patents and copyrights provide some degree of market power to holders because

• A) patent holders often share their knowledge with others.
• B) firms can often evade patents and copyrights by making slight changes in design.
• C) patent holders are protected from direct competition in the short run.
• D) very few patents are granted each year.
• E) there is no penalty in duplicating the patented products at low cost.

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Definitions:

IQs

Stands for Intelligence Quotients, a measure of a person's intellectual abilities in relation to an average score, typically assessed through standardized tests.

Reaction Range

The concept that genetic potential for a trait sets limits on the range of possible outcomes, but the environment determines where within those limits an individual will fall.

Heredity

Hereditary conveyance of traits, including both physical and psychological attributes, between generations.

Adoption Studies

Research methods that compare genetically related individuals raised apart with those raised together to understand the influence of genetics and environment.