Multiple Choice
Patents generally encourage firms to invest in research and development when:
A) the marginal cost of the invention is greater than the marginal benefit.
B) the invention has nonrival benefits but exclusion is not possible.
C) the private cost of the invention is less than the social benefit.
D) the private cost of invention is equal to the social cost.
Correct Answer:
Verified
Correct Answer:
Verified
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