Question

If an alternative policy could encourage both _____________________, instead of ________________________, consumers would benefit.

Answer 1

Answer:

invention and competition; invention and monopoly.

Explanation:

If an alternative policy could encourage both invention and competition, instead of invention and monopoly, consumers would benefit.

For instance, if the federal government in a particular country decides to develop and introduce an alternative policy to the existing invention patent policy available to all manufacturing industries, such that a monopolistic policy is being changed to a competitive policy.

Consequently, this would greatly be to the benefit of the consumers because the level of output or production would increased dramatically, since it is now a competitive market rather than the monopolistic or oligopolistic market. Also, when there's competition between manufacturing companies, the price of goods and services would fall.

Hence, the consumers in a particular country would benefit from an invention and competition policy rather than an invention and monopoly policy.