Pick between 1 or 2 to write about: Patents provide an incentive to invest. The
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Pick between 1 or 2 to write about:
Patents provide an incentive to invest. The government could provide other incentives such as government grants or prizes for major discoveries. Why do you think patents are more commonly used than these other approaches, even though patents lead to monopoly problems? Discuss.
Which types of markets are more likely to have cartels and which are less likely? Why? Discuss.