Reference no: EM132307749

Question: Prior to beginning work on this discussion, read Ellen Martin's article, The Ethics of Big Data.

Based on the article's content, respond to the following:

• Describe the microeconomic principles being used. What is the impact for demand?

• Evaluate the different market structures that big data benefits the least and the most from.

• While data collection may benefit the business community, discuss the concerns for consumers as big data proliferates.

Your initial post should be a minimum of 300 words.

Discussion 2: Barriers to Entry [WLO: 3] [CLOs: 1, 4, 5, 6, 7]

Patents are granted for 20 years, but pharmaceutical companies cannot use their patent-guaranteed monopoly powers for anywhere near this long because it takes several years to acquire Food and Drug Adminstration (FDA) approval of drugs.

• What purposes do barriers to entry created by the government serve?

• What are other barriers to entry in the pharmaceutical industry?

• Should drug patents be extended to 20 years after FDA approval?

• Explain what would be the costs and benefits from this extension.

Your initial post should be a minimum of 300 words.