Thread: the government will sometimes give monopoly power to a company by issuing a patent

because the:? a. government does not want competition for the product

b. company can make the product better than anyone else can

c. company pays the government for the patent

d. company can profit for a limited time for their research without competition

The answer is d.

The reason that the government allows temporary monopolies through patents is that they want to encourage invention and innovation. If, every time someone invented something, everyone could use it and make it, there wouldn't be much economic incentive to invent things. Your competitors would instantly be able to copy you, thus you wouldn't make any additional profit, and any resources and time you spent in your research and development would show very little, if any, economic benefit to you.

Patents serve to reward inventive behavior by granting temporary monopolies.

I` ve even never thought about it, l`ll bear it in my mind

Originally Posted by lvlatterized

because the:? a. government does not want competition for the product

b. company can make the product better than anyone else can

c. company pays the government for the patent

d. company can profit for a limited time for their research without competition

I am agree with d answer, Like in my country. the reason .... no comment.

Patenting is very important. It encourages invention and innovation !