Answer the Following

question 89

Essay

Answer the following:
a)Explain how the free rider problem might apply to the research and development of new technologies,medicine,and processes if research and development were only financed by private funds.
b)How does the government combat the free-rider problem in new ideas?

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Definitions:

Probability

A measure of the likelihood of a particular event occurring, ranging from 0 (impossible) to 1 (certain).

Complement

The complement in mathematics refers to the amount needed to complete something or make it whole, often seen in set theory as elements not in the subset.

Traffic Court

A specialized judicial process for handling legal violations related to driving and traffic rules.

Show Up

Typically refers to the act of appearing or being present at a given location or event.