Patents restrict competing firms from copying new technologies and are therefore a barrier to entry. What would happen in the renewable energy markets if patents were no longer awarded? Select one: a. Renewable energy prices would fall, and research into new energy technologies would increase. b. Current renewable energy companies would suffer, but new companies would benefit. c. Renewable energy markets would shrink, and energy prices would rise. d. Research into new energy technologies would fall, and new companies would enter renewable energy sectors which they can copy.

Patents restrict competing firms from copying new technologies and are therefore a barrier to entry. What would happen in the renewable energy markets if patents were no longer awarded? Select one: a. Renewable energy prices would fall, and research into new energy technologies would increase. b. Current renewable energy companies would suffer, but new companies would benefit. c. Renewable energy markets would shrink, and energy prices would rise. d. Research into new energy technologies would fall, and new companies would enter renewable energy sectors which they can copy.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter11: Monopoly And Antitrust Policy

Section: Chapter Questions

Problem 30CTQ: If you were developing a product (like a web browser) for a market with significant barriers to...

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