a) When we talk about innovations, the concept of appropriateness is central to economics. Explain what is meant by appropriateness and why it is important for issues related to innovations. We will now look at the development of technology for salmon farming at sea. We assume that the technology does not exist today, but must be developed with costly research and development. We further distinguish between different scenarios and ask you briefly discuss research support in each case. We assume that the state in the first place owns the sea, but can sell licenses for farming in the sea.

a) When we talk about innovations, the concept of appropriateness is central to economics. Explain what is meant by appropriateness and why it is important for issues related to innovations. We will now look at the development of technology for salmon farming at sea. We assume that the technology does not exist today, but must be developed with costly research and development. We further distinguish between different scenarios and ask you briefly discuss research support in each case. We assume that the state in the first place owns the sea, but can sell licenses for farming in the sea.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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