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13.1 Why the private sector under invests in innovation  (Page 15/16)

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  • Card 15 / 16:
    social benefits

    the dollar value of all benefits of a new product or process invented by a company that can be captured by other firms and by society as a whole

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Source:  OpenStax, Principles of microeconomics for ap® courses. OpenStax CNX. Aug 24, 2015 Download for free at http://legacy.cnx.org/content/col11858/1.4
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