Author Question: Independent, non-monopoly firms have an incentive advantage over monopolies in new-product ... (Read 40 times)

biggirl4568 · **on:** Jul 1, 2018

Independent, non-monopoly firms have an incentive advantage over monopolies in new-product innovation.

Indicate whether the statement is true or false

Question 2

Besides rewarding discoveries, patents can also prevent them.

Indicate whether the statement is true or false

wshriver · **Reply #1 on:** Jul 1, 2018

Answer to Question 1

F All firms will have similar gains from the discovery of a new product. (There is no commitment, as there may be for new processes.)

Answer to Question 2

T A collection of existing patents can block a discovery that, if accomplished, would allow a breakthrough to still more discoveries.