Governments grant patents to encourage A) low prices. B) firms ...

[jenna1]

Governments grant patents to encourage
 
  A) low prices. B) firms to form public enterprises.
  C) research and development on new products. D) competition.

Question 2

A four-firm concentration ratio measures
 
  A) the price elasticity of demand in an industry.
  B) the price elasticity of demand among the four largest firms in an industry.
  C) the extent to which industry sales are concentrated among the four largest firms in the industry.
  D) the number of firms in an industry.

[gcook]

Answer to Question 1

C

Answer to Question 2

C