Allowing an Inventor to Have the Exclusive Rights to Market

question 649

Multiple Choice

Allowing an inventor to have the exclusive rights to market her new invention will lead to
(i) a product that is priced higher than it would be without the exclusive rights.
(ii) desirable behavior in the sense that inventors are encouraged to invent.
(iii) higher profits for the inventor.

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

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Definitions:

Heavy Machinery

Large and heavy equipment and machinery used in industries such as construction, mining, and manufacturing for tasks requiring significant power and force.

Excavation

The process of digging up earth, soil, or rock, often used in archeology or construction to uncover structures or artifacts.

Contract Price

The total amount agreed upon in a contract for the sale of goods or services.

Call for Tenders

A formal request issued by a business or government for suppliers to submit proposals to undertake a specified project or service.