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Between patents and copyrights, which reflects a free market, and which is a grant of monopoly privilege by the state? Patents give inventors or developers of new products the exclusive right to sell their products for a specific time. By protecting sellers from the encroachment of competition, patents enable innovators to charge higher prices and to recover their products' development costs. Copyrights work in a similar way, protecting the authors of software, music, movies, books, and other published works. Many people consider patents and copyrights as being equivalent. Do you think they have the same purpose and effect?In this Application, you will analyze the economics of the purely free market. Why do you believe that most successful industrial societies offer patent and copyright protection, even though these protections enable sellers to charge higher prices? Can the sellers charge whatever they want? Why or why not? Provide an example to support your opinion.
q1. identify the flaw in this analysis the demand for bread will fall if more americans go on a low diet. the cost of
Consider the community in which you live. What is your responsibility within your own community? Explain and provide examples of what you consider your responsibilities.
Congresswoman Gaga represents a state in which several firms fabricate furniture. She needs to impose tariffs on all imported furniture.
Suppose sellers of liquor are required to send $1.00 to the government for every bottle of liquor they sell. Further, suppose this tax causes the price paid by buyers of liquor to rise by $0.60 per bottle. Elucidate which of the following statemen..
Assume that at price index of 154, the quantity demanded of Real GDP is 9,000 billion worth of goods and services. Elucidate do these data represent aggregate demand or a point on aggregate demand curve.
Calculate the following: Rate of Return and Calculate the following: Net Present Value Index
q1. in the exhibit below explain how does the real wage rate at point c compare with the real wage at point a? explain
Illustrate what are the indicators of underdevelopment in a world economy.
q.consider a market with demand q 10 - p. currently there is an incumbent in the market with capacity k. there is a
q.statistical inference confidence intervals and hypothesis tests. suppose that a sample of economists are forecasting
Now suppose the factory develops an innovation that allows it to produce a shirt for the equivalent of 1 loaf of bread. What is the new radius of the factory's market area.
Explain how supreme as well as comparative advantages were used in your simulation.
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