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Competition Keeps Prices Lower for Consumers

question 359

Essay

Competition keeps prices lower for consumers. So why do we have patent laws?


Definitions:

Binocular Fusion

The process by which the brain combines the different images received by each eye into a single image.

Redundance

The occurrence of unnecessary or repetitive information, actions, or processes, often leading to inefficiency.

Binocular Rivalry

A phenomenon of visual perception in which perception alternates between different images presented to each eye.

Linear Perspective

A technique in art and photography that creates the illusion of depth and distance on a flat surface utilizing converging parallel lines.

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