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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.
Within which sections of the production function is marginal product increasing. Explicate the link between scarcity, choice and opportunity cost
suppose the yield to maturity on a 1-year bond is 6 percent. Everyone expects inflation over the year to be 3 percent, but it turns out to be 5 percent. What is the nominal interest rate on the bond, the ex ante real rate, and the ex post real rat..
Find out the total revenue and marginal revenue functions for men and women.
All of these methods help an organization mold strong, smart, motivated employees that know how to do their job and can help the organization smoothly.
Describe the organizational structure of your selected organization. Evaluate and difference that structure with two different organizational structures.
Draw the firm's MC, AVC, and AC curves. Add a downward sloping demand curve, and show the profit maximizing quantity and price. Indiate the profit as an area on your diagram. Show the deadweight loss.
critically estimate the theory and empirical evidence on the optimality criterion for choosing an exchange rate regime.
An average worker in Brazil can produce an ounce of soybeans in 20minutes and an ounce of coffee in 60 minutes, while an average worker in Per can produce an ounce of soybeans in 50 minutes and anounce of coffee in 75 minutes.
Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
Which plan would you recommend that the Ridpaths choose? Why? What other health coverage options should the Ridpaths consider?
What price-output combination would exist with efficient pricing (MC = P)? Draw a graph with MC, Demand curve and MR curves for the problem above.
Discuss five non-bank financial intermediaries in the American economy,relate what each one does and how it gets money.
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