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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