According to economists, patents are justified in some instances because firms need to have an incentive to do research and development. But there is a tradeoff between patents and innovation.Generally patents are most likely to infringe on innovation Multiple Cholce of simple, easy-to-copy products. for products that incorporate many different technologies Into a single product. when there is government intervention. when they cause creative destruction. in the pharmaceutical Industry.

According to economists, patents are justified in some instances because firms need to have an incentive to do research and development. But there is a tradeoff between patents and innovation.Generally patents are most likely to infringe on innovation Multiple Cholce of simple, easy-to-copy products. for products that incorporate many different technologies Into a single product. when there is government intervention. when they cause creative destruction. in the pharmaceutical Industry.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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