The reason that the government offers inventors exclusive rights to their product for a period of time is to
A. increase profits of certain companies.
B. reduce market concentration.
C. maximize consumer utility.
D. promote innovation.
Answer: D
You might also like to view...
The investment function tells us, at any given interest rate
A) how many funds people will invest in the stock market. B) how many funds people will earn on their stock market investments. C) how profitable it will be for firms to expand. D) how much businesses will spend on adding to the capital stock.
The Federal Reserve operates under a rule that requires money supply growth to increase by one percentage point for every percentage point that unemployment rises above its natural rate
a. True b. False Indicate whether the statement is true or false
The Breton Woods System was an agreement that:
A. required each participating country to abolish all trade barriers. B. required each participating country to stay on the gold standard. C. standardized tariffs across all participating countries. D. required each participating country to peg their currency to the U.S. dollar.
The inverse demand in a Cournot duopoly is P = a ? b(Q1 + Q2), and costs are C1(Q1) = c1Q1 and C2(Q2) = c2Q2. The government has imposed a per-unit tax of $t on each unit sold by each firm. The tax revenue is:
A. greater than t times the total output of the two firms should there be no sales tax. B. t times the total output of the two firms should there be no sales tax. C. less than t times the total output of the two firms should there be no sales tax. D. None of the answers is correct.