A Justification for Patents Is That Without Patents Consumer Surplus

question 60

Multiple Choice

A justification for patents is that without patents consumer surplus would be

• A) larger than with the patent.
• B) zero since the product would not be invented.
• C) only slightly smaller than with the patent.
• D) zero since the monopoly would be a revenue maximizer.

---

Definitions:

Light Focuses

Refers to the convergence, bending, or direction of light rays to a point, which is fundamental in optics for creating images in cameras, telescopes, and the human eye.

Retina

A thin layer of tissue at the back of the eye that contains cells sensitive to light, which convert images into electrical signals sent to the brain.

Receptors

are specialized cells or proteins that detect and respond to external signals such as chemicals, light, or pressure.

Seeing Details

refers to the ability to perceive fine or small elements or differences in objects, images, or scenes.