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Imagine That Encryption and Related Technologies Become So Advanced That

question 82

Essay

Imagine that encryption and related technologies become so advanced that the knowledge produced by research and development are as excludable as any other good,while technology remains nonrival.In a world in which technology is both nonrival and excludable,do the government policies of government spending on R&D,tax incentives for R&D,and patents continue to make sense?


Definitions:

Depreciation

The systematic allocation of the cost of a tangible asset over its estimated useful life, recognizing the decrease in value over time.

Allocation Bases

Criteria or metrics used to distribute overhead costs to different departments or products in a company, ensuring accurate cost accounting.

Drilling Department

A division within a manufacturing or mining operation dedicated to the process of drilling, such as creating holes in the earth's surface or in materials.

Current Period

refers to the present accounting period under consideration, typically a month, quarter, or year.

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