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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.
When government becomes heavily involved in tax-transfer activities, how will this involvement affect economic efficiency.
Illustrate what is the value of the money multiplier. What is the value of the nominal money supply. What are the nominal values of deposits, currency, and reserves.
Suppose that two UK government bonds have same face values with £100. One has an outstanding maturity of 2.5 years. Its coupon rate is 9.75% and coupons are paid semi-annually.
You have come to realize which you are only buying 3 bottles of wine a week now whereas you utilized to buy six bottles of wine when you made $60,000 a yr. Given this situation you would describe wine as a.
Each month, aztec spends exactly $2 million on advertising. Illustrate what is aztec's elasticity of demand for advertising. Can you write the equation for Aztec's demand for advertising.
Is there a surplus or deficit in the government budget at the equilibrium level of income.
Assume that the resource and output markets are both competitive, and that it is possible to hire fractional units of the resource. Explain how many units of the resource will a profit-maximizing firm hire.
The purpose of this problem is to study the sacrifice ratio. Assume that initially actual and natural real GDP both equal 11,000 and that the rate of inflation is 3.5 percent.
Calculate the expected utility of each project according to this criterion. (c) Is this individual risk adverse, risk neutral, or risk seeking?
Illustrate what is Nurd's equilibrium evel of income. Illustrate what is likely to occur in the coming months if the government takes no action.
A newspaper article once reported that U.S. economy was experiencing a low rate of inflation. Why does inflation affect increase in Social Security and or profits.
Suppose instead that the station seeks to maximize its profit from sales of the DVDs. What price should it charge. How many DVDs should it order from which supplier.
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