In the Video,Edwin Mansfield Notes That One Reason Why R&D

question 26

Multiple Choice

In the video,Edwin Mansfield notes that one reason why R&D spending by firms has declined as a percent of national output is that

• A) very little is left to invent, since research was so great in the first half of the twentieth century.
• B) most research goes to enhance military spending, which is no longer as important as it once was.
• C) a firm cannot appropriate all the benefits it creates from R&D, because they spill over to outsiders, so it tends to underinvest in this area.
• D) R&D rarely results in marketable products, so increasingly it is being performed in government research facilities.
• E) stagflation has made R&D unprofitable for the smaller firms that carry out the largest share of this activity.

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