Charles Goodyear decided to license his patented vulcanization process to capture value from his innovation, instead of selling the products on his own. Do you think this is rational? Why or why not?

The action is rational.

Explanation:

The action is rational because by licensing his patent, he is able to potentially obtain more money from the sale of licenses, than from the patent itself, or from the sales he could have made himself.

Charles Goodyear is probably able to reach more customers, which mean more licenses, which mean more money, by licensing the vulcanization process.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.