What are the two characteristics that are essential to economic analysis of invention?
A)fixed-costs and public goods
B)fixed-costs and private goods
C)variable-costs and public goods
D)variable-costs and private goods

Question

What are the two characteristics that are essential to economic analysis of invention?
A)fixed-costs and public goods 
B)fixed-costs and private goods 
C)variable-costs and public goods 
D)variable-costs and private goods

Quizplus · Accepted Answer

Invention typically involves high fixed costs due to research and development, and the resulting knowledge or technology often has characteristics of a public good, being non-excludable and non-rivalrous.

What Are the Two Characteristics That Are Essential to Economic