Order the answer to: Alexander Graham Bell beat Elisha Gray to the patent office

Academic Help business-economics Order the answer to: Alexander Graham Bell beat Elisha Gray to the patent office

business-economics

Order the answer to: Alexander Graham Bell beat Elisha Gray to the patent office

Question Alexander Graham Bell beat Elisha Gray to the patent office by several hours, so that Bell obtained the patent on the telephone. Imagine how much that patent turned out to be worth. How much do you think Gray got for his effort and expenditure on development of the invention? How does that explain the possibility that average economic profits from innovation are close to zero?
Subject business-economics
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