Multiple Choice
Which statement about the effects of patents is TRUE?
A) Patents increase the incentive to research and develop new products and also increase competition on the market.
B) Patents increase the incentive to research and develop new products but also increase monopoly power once the products are created.
C) Patents reduce the incentive to research and develop new products but also reduce competition in the market.
D) Patents reduce the incentive to research and develop new products but increase monopoly power once the products are created.
Correct Answer:
Verified
Correct Answer:
Verified
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