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Question 1. Patent Law
(1) Did the Bayh-Dole Act introduce the patenting and licensing of federally sponsored innovations in universities and national labs? (If no, briefly explain.)
(2) Were patents established in England by the Statute of Monopolies?
(3) What is the maximum term of a United States patent? When does the measurement of patent life start, for a given invention?
(4) Which of the following is not a criterion for utility patents?
Patentable subject matter
Utility
Novelty
Economic Value
Non-obviousness
(5) What subjects do copyright law protect? When does the copyright protection start and end? Can you copyright the BART train schedule? (If no, briefly explain)
Assume the required reserve ratio equals 12%. Find the maximum deposit expansion using the deposit multiplier formula. State what happens to the a) excess reserve to deposit ratio, b) bank loans to the public, and c) the money supply. State what happ..
Explain equilibrium of a firm under monopoly in long run Explain in detail with diagram
Let q denote the output of a single firm and Q the output of the entire industry. A supply function for a firm gives the firm's profit-maximizing level of outpu
Money market funds are yielding almost nothing. Last month, the interest rate on a money market fund averaged 0.08% a year and on 5-year CDs it was 2.6% a year. The inflation rate was 0.1% a year. Calculate the real interest rate on each of these fin..
Which of the following are determinants of the price elasticity of supply?
Using your answer to Question 2, calculate the profitability of Customer A and Customer B. What explains any difference in profitability between the two customers? What are the limitations, if any, to the estimates of the profitability of the two cus..
Supply side theorists claimed all of the following justifications for their theory, except:
In the long run every firm in a perfectly competitive market will earn just normal profit, no excess profit, and no loss. Discuss and explain with the help of a
Why did so many investment banks have to start buying CDO's and other mortgaged backed securities themselves (rather than selling them to other investors).
Some seem to believe that we should be pure maximizers. Others say that we do better as constrained maximizers. Which view does David Schmidtz endorse and why?
Does the best regression model that you ran in problem 27 have severe serial correlation? How can you tell?
You own a restaurant which buys its meat from a distributor but grows its own vegetables, for use in food preparation. There is an opportunity cost even when yo
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