Avoidable monopolies are objectionable because they lead to higher prices and/or lower supply than would be the case in a free market. Patents confer avoidable monopolies. Therefore, patents are objectionable." How would you defend the patent system against this argument
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- Avoidable monopolies are objectionable because they lead to higher prices and/or lower supply than would be the case in a free market. Patents confer avoidable monopolies.
- therefore, in monopoly, there is no distinction between an one organization constitutes the whole industry
demand and revenue under monopoly
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