Which of the Following Statements Is True About Patents and Copyrights

question 76

Multiple Choice

Which of the following statements is true about patents and copyrights? (i) They both have benefits and costs.
(ii) They lead to higher prices.
(iii) They enhance the ability of monopolists to earn above-average profits.

• A)(i) and (ii)
• B)(ii) and (iii)
• C)(ii) only
• D)(i), (ii), and (iii)

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Definitions:

New England Settlers

Refers to the early colonists and immigrants who established the first English colonies in the northeastern part of what is now the United States.

Cotton Gin

A machine invented by Eli Whitney in 1793 that quickly and efficiently removed seeds from cotton fibers, significantly impacting the agricultural economy of the United States.

Inventor

An individual who creates or discovers a new method, form, device, or other useful means that becomes known for the first time.

Slave Coffle

A group of slaves chained together in a line during transport.