Match the different externalities on the right with the government actions relat

Question

Match the different externalities on the right with the government actions related to new technologies listed on the left that may cause them. All externalities will be used, and each action may have more than one related externality. Actions Creates temporary monopolies Provides incentive to inventors Extermalities Sometimes granted too slowly Patent Sometimes granted too easily Government Spending Costs taxpayers Can be politically, not scientifically, motivated Reduces firms' incentives to innovate. Allowing collaboration between different reads out risks of research ompanies Incorrect. How long does it take to grant a patent? What happens when others are also innovating in that time? Also double check the other items.

Explanation / Answer

Ans:

Externalities are the consequences which effect a party who is a not involved in the activity.Different externalities are grouped has follows

Create temporary monopolies

Some times granted too slowly

Some times granted too easily

Can be politically,not scientifically motivated

Costs taxpayers

Provides incentives to inventors

Spreads out risks of research

Reduces firms incentives to innovate

Patent Government Spending Allowing collaboration between different companies

Create temporary monopolies

Some times granted too slowly

Some times granted too easily

Can be politically,not scientifically motivated

Costs taxpayers

Provides incentives to inventors

Spreads out risks of research

Reduces firms incentives to innovate

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