A Patent Turns a New Idea into Which of the Following

question 49

Multiple Choice

A patent turns a new idea into which of the following goods?

• A)a public good, which increases the incentive to engage in research
• B)a public good, which decreases the incentive to engage in research
• C)a private good, which increases the incentive to engage in research
• D)a private good, which decreases the incentive to engage in research

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Definitions:

Lower Productivity

A decrease in the rate at which goods or services are produced, often indicating inefficiency.

Output Per Worker

A measure of productivity calculated by dividing total output by the number of workers.

Increasing Productivity

A process or strategy aimed at enhancing the efficiency of production, often resulting in higher output with the same or less input.

Human Resource Management Practices

The systematic management of people within an organization, including recruitment, selection, training, development, and compensation.