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New Growth Theory
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New Growth Theory
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13. Productivity and Economic Growth / New Growth Theory / Problem 7
Problem 7
How do patents balance private incentives with public benefits in the context of knowledge capital?
A
By requiring firms to share all their research findings immediately
B
By providing temporary exclusive rights to innovations, encouraging investment in R&D while eventually making knowledge public
C
By eliminating competition in the market
D
By allowing firms to keep their innovations secret indefinitely
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