The Rewards to Private R&D Depend On

question 7

Multiple Choice

The rewards to private R&D depend on:

• A)the costs of R&D.
• B)the rewards from the results of R&D.
• C)the security of intellectual property rights.
• D)all of the above.

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Definitions:

Diffuse Costs

Costs that are spread out over many consumers or taxpayers, making them hard to identify and attribute to any single action.

Median-Voter Model

A theory suggesting that the outcome of majority voting processes will reflect the preferences of the median voter.

Cost-Benefit Analysis

A systematic approach to estimate the strengths and weaknesses of alternatives, assessing the value of costs and benefits to support decision-making.

Paired-Choice Majority Votes

A voting method in which voters choose between pairs of candidates or options, with the majority preference deciding the outcome.