Patents, copyrights, and trademarks
A)are examples of government-created monopolies.
B)allow their owners to reduce the costs of what they produce.
C)generate more revenue for the government than they cost consumers in the form of higher prices.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

Patents, copyrights, and trademarks are all examples of legal monopolies created by the government to protect intellectual property. These types of monopolies allow the owner to restrict others from using, making, or selling their property for a certain amount of time, which can reduce competition and increase prices for consumers. While these legal monopolies can provide benefits to the owner, they can also come at a cost to consumers in the form of higher prices or reduced access to certain products or services.

Patents, Copyrights, and Trademarks