Economic Analysis Suggests That Patent Laws That Can Often Be

question 2

Multiple Choice

Economic analysis suggests that patent laws that can often be used to limit the entry of potential competitors into an industry

• A) redistribute income from consumers to business decision makers without affecting the allocation of resources.
• B) may be a source of business monopoly power, but they may also encourage innovation in the long run.
• C) encourage product development and the adoption of cost-reducing technologies in the short run but in the long run generally lead to business monopoly.
• D) help inventors at the expense of consumers in the long run.

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Definitions:

Visual System

The part of the central nervous system which enables organisms to process visual detail, and includes the eye, the optic nerves, and the brain's visual cortex.

Rods

Photoreceptor cells in the retina of the eye that are responsible for vision at low light levels but do not mediate color vision.

Peripheral Vision

The part of vision that occurs outside the very center of gaze, allowing humans to perceive objects and movements at the edges of their visual field.

Rod Cells

Photoreceptor cells in the retina of the eye that are responsible for vision at low light levels and are not involved in color vision.