Suppose a firm is considering whether to undertake research to develop a new technology. Additionally, suppose it would be beneficial for society if the firm provide the new technology. What could lead to market failure in this example? Market failure could result if O A. the technology when made available could be duplicated by other producers. O B. the firm could obtain a patent for the technology. OC. the government were to instead supply the technology. O D. the firm would earn profit from providing the technology. OE. the technology were rival and excludable.

Suppose a firm is considering whether to undertake research to develop a new technology. Additionally, suppose it would be beneficial for society if the firm provide the new technology. What could lead to market failure in this example? Market failure could result if O A. the technology when made available could be duplicated by other producers. O B. the firm could obtain a patent for the technology. OC. the government were to instead supply the technology. O D. the firm would earn profit from providing the technology. OE. the technology were rival and excludable.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter8: Perfect Competition

Section: Chapter Questions

Problem 6SCQ: A firms marginal cost curve above the average variable cost curve is equal to the films individual...

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