question archive 1)Absent any government action or policy, why might firms underinvest in research and development? What can be done (or has been done) to address this problem? 2) Goods are nonrival if a
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1)Absent any government action or policy, why might firms underinvest in research and development? What can be done (or has been done) to address this problem?
2)
Goods are nonrival if
a. consumption of a good causes positive spillovers to social benefits.
b. consumption of a good by one person does not affect consumption by another.
c. consumption of a good by one person decreases social welfare.
d. it is not possible to prevent an individual from using the good.
e. the quantity demanded of a good increases when incomes increase.
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