Economist Michael Kremer Offered a Unique Solution to the Problem

question 99

Multiple Choice

Economist Michael Kremer offered a unique solution to the problem of deadweight loss created by monopolies that have control of an innovation. What solution did he propose that would leave the drive to innovate uncompromised?

• A) The government should buy out the innovation created by the monopoly.
• B) The government should sell a patent to the monopoly that creates the innovative technology.
• C) The government should buy out the rights of the patent from the monopoly.
• D) The government should place a price control on the monopoly's product.

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Definitions:

Gender-Typing

The process by which males and females come to display behavior patterns consistent with stereotypical masculine and feminine gender roles.

Personality Traits

Enduring characteristics or dispositions that influence behavior across situations, such as openness, conscientiousness, extraversion, agreeableness, and neuroticism.

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Repeated sequences of actions that are characteristic to an individual or group.

Self-Concept

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