Invents very useful gadget and makes huge profits

Assignment Help Business Economics

Reference no: EM13982007

An eccentric scientist invents a very useful gadget and makes huge profits. Unfortunately, he is so preoccupied with his newly found fame and fortune that he forgot to secure a patent for his special product.

A) What can be expected to happen to the supply of the gadget?

B) What can be expected to happen to the price and the demand of the gadget?

Reference no: EM13982007

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