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.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter9: Competition And Monopolies

Section: Chapter Questions

Problem 19AA

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