Patents, which confer market power, are intended to: Group of answer choices maintain the dominance of U. S. Firms. Encourage innovation by helping firms recoup the costs of research and development. Protect consumers from imitations or knock-offs. Enable patent holders to charge lower prices for new and innovative products

Respuesta :

The purpose of patents is to Encourage innovation by helping firms recoup the costs of research and development.

What do patents do?

They are a way to encourage innovation by protecting the rights of the innovator to be the only one to benefit from selling the innovation for a certain amount of time.

This allows the innovator to recoup the amounts they spent on the innovation without worrying about competing with others who will copy the technology.

In conclusion, option B is correct.

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