Unformatted text preview: 2.2) The federal government grants patents to encourage firms to spend money on research to create new products. 2.3) A public franchise is a firm designated by the government as the only legal provider of a good or service. All public franchises are not natural monopolies and all natural monopolies are not public franchises....
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This note was uploaded on 01/14/2012 for the course ECO 211 taught by Professor Morvey during the Fall '10 term at Piedmont TC.
- Fall '10