Which of the following best defines the situation where one firm's research yields knowledge that is used by society as a whole?
A) social cost
B) opportunity cost of technology
C) internalisation of an externality
D) technology spillover

Question

Quizplus · Accepted Answer

Technology spillover occurs when one firm's research and development efforts generate knowledge, which is available to others in the industry, without any additional cost. This spillover can benefit society as a whole by facilitating innovation and technological progress, leading to economic growth and development.

Which of the Following Best Defines the Situation Where One