On Market Failure & Externalities
The topic is Market Failure and Externalities. Our text explains that there are positive externalities associated with research and development as knowledge spills over to other firms and individuals. This reduces the incentive that any single firm has to innovate, so the government can provide legal (monopoly) protection to encourage firms to innovate. Go online and find an article to present an example (Be sure to cite your article using APA formatted citations). Then tell us about the example in your article and evaluate whether the government’s policy has been successful.