Author Question: Patent laws promote technical progress in all of the following ways except one. Which is the ... (Read 81 times)

awywial · **on:** Jun 30, 2018

Patent laws promote technical progress in all of the following ways except one. Which is the exception?
a. They allow other firms to copy successful products as soon as they are marketed.
b. They prevent duplication of inventions.
c. They provide a stimulus to innovation.
d. They provide the inventor with a temporary monopoly.
e. They increase a firm's incentive to incur the up-front costs of developing new products.

Question 2

Firms in perfect competition have no control over
a. all of the following
b. where to operate on their average total cost curves
c. what price to charge
d. how many inputs to use
e. how much to produce