Suppose Ford Develops a Technology Enabling Its Full-Size Cars to Get

Multiple Choice

Suppose Ford develops a technology enabling its full-size cars to get 150 miles per gallon. If it applies for a patent on that technology and is denied, Ford can expect to

A) still have a monopoly on that technology because Ford has monopoly power in the industry
B) sell that technology to a competitor who will reapply for the patent
C) be reimbursed for its investment in research by the government because it was the government that denied the patent in the first place
D) earn lower profit than they would with the patent
E) sell fewer cars in the short run, but more in the long run than its competition