To encourage the creation of ideas,governments usea. patents.b. subsidies.c. internet taxes.d. a and b only.e. a, b, and c only. Patents give entrepreneurs a__on their ideas. *a. price floor.b. price ceiling.c. negative externality.d. positive externality.e. monopoly.True or false: Patents have costs andbenefits when it comes to encouragingidea creation and adoption. *a. True.b. False.

Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Answered: To encourage the creation of ideas,…

Business

Economics

To encourage the creation of ideas, governments use a. patents. b. subsidies. c. internet taxes. d. a and b only.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: If producing a good generates pollution (a negative externality), from a social perspective ... a.…

A: Negative externality occurs when the production of a good causes indirect negative impact on the…

Q: Refer to the Figure. This graph represents the market for cigarettes. This market Price 34 32 30 28…

A: In a competitive market, the market forces of demand and supply of a good determine the equilibrium…

Q: Are the following goods non-rival in consumption? a. slice of pizza b. laptop computer c. public…

A: Rival goods concept could be applied for products where one individual crowds out of their…

Q: Which of the following goods is nonexcludable?

A: Non excludability is the feature of certain goods. Usually public goods are non excludable and non…

Q: Dog owners do not bear the full cost of the noise their barking dogs create and often take too few…

A: An externality can be a cost or benefit caused by a producer that is not financially incurred or…

Q: Which of the following is an example of an externality? (x) cigarette smoke that permeates an…

A: Externalities are important concepts in economics, representing the unintended side effects or…

Q: In the cap-and-trade program a. firms with low abatement costs buy permits b. firms with low…

A: In a market, abatement cost refers to the cost to a firm when it tries to reduce the quantity or…

Q: Define the principle of rival consumption. A. idea that subsidies should be given to rival companies…

A: Consumption refers to the act of deriving utility from a good or service. The level of consumption…

Q: The laissez-faire price system a. Assures economic efficiency even when there are externalities. b.…

A: The Classical economists advocated that the markets are self-regulated in nature and there should be…

Q: externality arises when a. not all costs and benefits are included in the price of a good b. a…

A: The market failure occurs when the market demand and supply do not deliver the efficient result.

Q: What is the "rivalry" and "excludability" of the following goods? Also, if applicable, are they…

A: A good is consumed by an individual in an economy. These goods give some utility to the consumers by…

Q: An externality Select one: a. all answers are correct b. arises when property rights don’t exist or…

A: An externality is the external cost or external benefit incurred or received by an individual who is…

Q: Which of the following statements about externalities is correct? a. Education is the standard…

A: (H) All statements are incorrect.

Q: Which of the following goods would be considered a pure public good? Select one: O O O a. National…

A: A pure public good is characterized by two main features: non-excludability and…

Q: Market failure can be caused by

A: Inefficient distribution of goods in a free market is called market failure Some causes of market…

Q: When China and Japan got into a snit in 2010, China cut off Japan's supply of the Rare Earth…

Q: -A single firm's innovations in production technology often benefit the production of other firms…

A: The specificity rule in economics asserts that in the presence of negative externalities and/or…

Q: QUESTION 12 Which of the following is used to correct externalities? a. printing money b. interest…

A: The correct answer is:c. regulationRegulation is used to correct externalities. Externalities are…

Q: PHYSICAL RESOURCES REFER TO BRANDS, PATENTS, AND COPYRIGHTS. a. True b. False

A: Physical tangible assets are physical assets that are used in the day-to-day operations of a…

Q: An externality is Select one: a. the uncompensated impact of one person's actions on the well-being…

A: There is cost and benefit associated with every activity.

Q: Which of the following is a positive externality?

A: Positive externality is the externality which impacts the society positively. It occurs when the…

Q: According to free-market economists: a. when capital goods are allocated by the market, they will…

A: The free-market economist believes in minimum or no intervention in the production distribution or…

Q: Which of the following are public goods? a. Air bags b. Pencils c. Cycle helmets d. City…

A: Public goods have two essential features which are non-rival and non-exclusion. 1) Non-rival –…

Q: If you can prevent someone from consuming a good, that good is called

A: If a good is prevented from its consumption, then it is an example of a private good.

Q: Compared to market based regulations, conventional regulations are typically a. more expensive…

A: The regulations that encourage behavior through signals of markets instead of explicit directives…

Q: Radio (at least terrestrial radio) can be considered a public good. How can such a radio station…

A: Goods can be divided into private goods, public goods, common goods, and club goods. The…

Q: Market failure can be caused by Select one: O a. externalities and market power O b. government…

A: Efficiency arises when the market clears when demand and supply are equal at a common price. If the…

Q: This is a grant given by the federal government allowing an inventor the exclusive right to a…

A: Copyright refers to the legal right to be the only person who may print, copy, perform, etc. a piece…

Q: When a company is granted a patent by the U.S. government, Select one: a. a piece of general…

A: Meaning of Patents: The term patent refers to an official exclusively legal authority given by the…

Q: Because education generates a positive externality, ..... O A. subsidies to colleges or vouchers to…

A: A positive externality occurs when the production of goods and services indirectly benefits a third…

Q: The U.S. government has threatened to increase tariffs on European luxury automobiles because of a…

A: The question is asking us to identify the impact of a potential increase in tariffs on European…

Q: Market externalities are Select one: a. the effects of market activity not accounted for in the…

A: An externality stems from the production or consumption of a good or service, resulting in a cost or…

Q: After Nike built a plant in a rural area, it discovered that families were taking their children out…

A: The firm starts its branch in a remote area and that starting of the new branch leads to the locals…

Q: Market failure can be caused by Select one: a. externalities and market power O b. government…

A: The markets refer to the place where the buyers, and sellers interact. The markets work upon the…

Q: 85. All of the following would be government solutions to externality problems EXCEPT: a.public…

A: NOTE: Since you have asked multiple questions we will be answering only the first one, if you need…

Q: #9. Copyright laws exist to a. eliminate negative externalities. b. eliminate public goods. c. limit…

A: Copyrights are sort of law agreements that serves to protect the interests of authors of books from…

Q: What theory best explains the activities and objectives of non-profit organizations such as Black…

A: The objective of the question is to identify the most appropriate theory that explains the…

Q: Which of the following is NOT an example of government intervention in the market? a. Corporate…

A: When markets allocate resources inefficiently, governments intervene in the market. Resources are…

Q: How does the implementation of a cap-and- trade system for carbon emissions likely affect industrial…

A: The issue is to comprehend how the execution of a cap-and-exchange framework for fossil fuel…

Q: Which of the following phenomena is NOT an example of market failure? a. A positive externality. b.…

A: In an economy, market failure refers to the Ayia whe any of the trading party will get unfair share…

Q: The market for education confers positive externalities on society. Which of the following is an…

A: Introduction: Economics is referred to be a field of study that enables us to comprehend the limited…

Q: Why is a price change NOT an externality? Select one: a. A price change affects bystanders, not…

A: Most of the externalities comes under the category of so-called technical externalities; that's ,…

Q: Refer to Figure. The graph represents a market in which Price 22 24 22 18 16 Social cost (private…

A: A cost or benefit that is incurred by the third party who is not primarily associated with the…

Q: What is a market-failure rationale for the government investing in transportation and…

A: A market-failure rationale for the government investing in transportation and infrastructure, for…

Q: A(n) __________ is excludable and rival. Group of answer choices common resource public good…

A: In economics excludable means one person can be barred to utilise a good on others or others can be…

Q: _______ Where does social responsibility of business haveto begin?a. Governmentb. Managementc.…

A: Social responsibility is extremely important to a business. A reputation for strong social…

Question

To encourage the creation of ideas,
governments use
a. patents.
b. subsidies.
c. internet taxes.
d. a and b only.
e. a, b, and c only.

Patents give entrepreneurs a
__on their ideas. *
a. price floor.
b. price ceiling.
c. negative externality.
d. positive externality.
e. monopoly.
True or false: Patents have costs and
benefits when it comes to encouraging
idea creation and adoption. *
a. True.
b. False.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

D Question 7 Noise generated by an airport best illustrates. market power. overproduction of private goods. an externality. an inequity.
The Affordable care act passed by the Obama Administration initially required all US taxpayers to have health insurance. What market failure is being addressed here? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Negative Externality Moral Hazard Adverse selection Monopoly Power b C d
Spillovers or externalities: a. have been legislated out of existence. b. relate to both costs and benefits. c. None of the Above d. relate to benefits only. e. relate to costs only.
Efficiency losses _______________. a. Are not possible if suppliers are willing to produce and sell a product.b. Can only result from underproduction.c. Can only result from overproduction.d. None of the above.
Which of the following does not create market failure? A. Oil refining creates air pollution B. Airport creates noise pollution C. Production in a competitive market D. A good that is non-rival and non-excludable
I need to one page papers. The questions are below.As the world deals with energy issues what are the economic and political rationales behind government subsidization?In looking at the European Union summarize the social charter and European labor markets that the EU has to deal with?
Next question Which of the following is an example of a positive externality? A. A lower inflation rate would benefit most consumers. B. Compulsory flu shots for all students prevents the spread of illness in the general public. C. Promoting generic drugs would benefit people. D. Singapore has adopted a comprehensive savings plan for all workers known as the Central Provident Fund.
Cap and Trade policies are among the best environmental policies being used. However, it can be argued that they allow inefficient, high polluting sources to continue polluting. Is there a better way? What changes if any, would you make if you were the head of the EPA (Environment Protection Agency).
Which of these is a pure public good? OA. Satellite radio broadcasts B. Public health sion C. Fresh air D. Gasoline ← PREVIOUS
How can the tragedy of the commons be averted? a. The government can implement a price floor. b. Property rights can be assigned. c. The government can implement a cap and trade policy. d. The parties involved can engage in public bargaining.
What do free riding, the open access outcome, and congestion of a public good all have in common? A. They have double dividends B. They are the result of technological externalities C. They are cases where privatization corrects market failures D. None
8) Patents and copyrights A discourage invention and innovation B. can be used to correct external cost. C. D. encourage invention at no cost to the market. encourage invention and innovation at the cost of monopoly. domestic production, 9) The imposition of a quota and domestic purchases. A. decreases; increases; decreases B. increases; increases; increases с decreases; decreases; decreases D. increases; decreases; increases 10) The imposition of a tariff will typically and domestic production of the good. A. decrease; decrease B. increase; decrease C. increase; increase D. increase; not change imports, A. demand for Apple computers increases. B. demand for Apple computers decreases. C. supply of Dell computers increases. D. demand for Dell computers decreases government revenue 11) Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the 12) For country Gamma the opportunity cost for producing 1 computer is 10 tons of steel.…