Why do most successful societies present patents and

Reference no: EM13396583

1. What important characteristics do all three types of imperfect competitive firms share?
2. Why is marginal revenue always less than the price for a monopolist but equal to the price for a perfectly competitive firm?
3. Why do most successful societies offer patents and copyright protection even though these protections enable sellers to charge higher prices?

Reference no: EM13396583

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