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The discussion in the text presumed a particular form of patent policy, which provided ex post monopoly power to the innovator. An alternative intellectual property rights policy is licensing: firms that have made an innovation can license the rights to use this innovation to others. This exercise asks you to work through the implications of this type of licensing. Throughout, think of the licensing stage as follows: the innovator can make a take-it-or-leave-it-offer to one or many firms so that they can buy the rights to use the innovation (and produce as many units of the output as they like) in return for some licensing fee ν. Consider a competitive environment, and show that if firm 1 is allowed to license its innovation to others, this can never raise its profits and can never increase its incentives to undertake the innovation. Provide an intuition for this result. Now modify the model, so that each firm has a strictly convex and increasing cost of producing, ψ1(q), and also has to pay a fixed cost of ψ0 > 0 to be active (so that the average costs take the familiar inverted U shape). Show that licensing can be beneficial for firm 1 in this case and therefore increase innovation incentives. Explain why the results differ between the two cases.
Real Disposable Income Planned Real Consumption 0 3,000 2,000 4,400 4,000 5,800 6,000 7,200 8,000 8,600 10,000 10,000 12,000 11,400 14,000 12,800 Refer to Table 12.1. The table gives the combinations of income and consumption.
Corporate orders generate an avg. contribution of $100 per coat. Firm K has just recieved and unexpected order for up to 300 coats but has unused capacity to produce only 200. One manager recomends delivering 200 coats.
Suppose there are two states that do not trade: Iowa and Nebraska. Each state produces the same two goods: corn and wheat. For Iowa the opportunity cost of producing 1 bushel of wheat is 3 bushels of corn. For Nebraska the opportunity cost of prod..
How do you interpret the effect of immigrant status on wages when the model is Log wages regressed on immigrant dummy, and an immigrant dummy interaction
An engineer deposits $300 per month into a savings account thatpays interest at a rate of 6% per year, compounded semiannually. How much will be in the account at the end of 15 years A) Assume no inter-period compounding; B) Assumeinter-period comp..
Write a 3+ page, double-spaced essay: Explain the organizational archetypes as described by Mintzberg and discuss how organizational structure influences innovation.
Assume that demand for a commodity is represented by the equation P = 10 - 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium condi..
Calculate the profit maximizing price and quantity in each market.
Suppose that a state provides subsidies for a company to build plants that contribute to air pollution. Cleaning up this pollution causes the marginal cost of air cleanliness to rise by $210,000 at each degree of air cleanliness. What is the optim..
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
how would you assess the damages against the government?
A doctor earns $250,000 per year, while aprofessor earns $40,000. They play tennis against eachother each Saturday morning, each giving up a morning ofrelaxing, reading the paper, and playing with their children.
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