Patent protection is always efficient from society's perspective.

Question

Quizplus · Accepted Answer

While patent protection can incentivize innovation, it can also lead to monopolies and hinder competition, ultimately harming consumers and potentially stifling further innovation. Furthermore, patent protection only lasts for a limited time before the invention or idea becomes available to the public domain, meaning that it may not always be the most efficient way to stimulate long-term growth and progress.

Patent Protection Is Always Efficient from Society's Perspective