Which of the Following Statements Regarding Patents Is False

question 37

Multiple Choice

Which of the following statements regarding patents is false?

• A)Patents can help firms gain market power through innovation and then act as a barrier to entry.
• B)A firm that has market power as a result of a patent may be more likely to innovate than a perfectly competitive firm.
• C)Patents encourage the production of information, which might otherwise be under supplied.
• D)Patents can last for an indefinite time period.

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Definitions:

Age

The length of time that a person has lived or a thing has existed.

Economic Deprivation

A condition characterized by a lack of financial resources and access to basic needs.

Status

The relative social, professional, or other standing of someone or something.

OxyContin

A brand name for oxycodone, a powerful prescription opioid pain medication that is often abused.