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Intellectual property laws are intended to promote innovation, but some economists, such as Milton Friedman, have argued that such laws are not desirable. In the United States, there is no intellectual property protection for food recipes or for fashion designs. Considering the state of these two industries, and bearing in mind the discussion of the inefficiency of monopolies, can you think of any reasons why intellectual property laws might hinder innovation in some cases?
The annual percentage returns on common stocks over a 7-year period were as follows: Compare the means of these two population distributions. Compare the standard deviations of these two population distributions.
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
q. 1. suggest how an economist would approach the problem of alcohol abuse. provide two possible solutions to this
q1. suppose that the terms of trade of a nation improved from 100 to 110 over a given period of time.a by how much did
Assume the U.S. government wants to hold the value of the dollar at $1.00 U.S. equals 1000 Japanese yen, but finds that the value of yen is appreciating against the U.S. dollar. What would be an appropriate policy to reverse this trend?
Decide if the following statements are TRUE, FALSE, OR UNCERTAIN. Explain your reasoning in each case. Consider the economy in the short run.
Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
What is the best practices frontier? How does this relate to competitive advantage? Explain why rent seeking competition tends to dissipate rents-to drive them down so that there are no abnormal rents?
What is Fiscal policy? Crowding out effect is defined as "the decrease in private expenditure (C+I) as a consequence of increase in government spending (G) or the financial needs of a budget deficit". So, crowding out cannot have a "positive" effect ..
Two goods are complements when a decrease in the price of one good
Illustrate what real world data would you want to examine. What would you consider to be evidence of tit-for-tat pricing.
Your community has been chosen as the site of a new power plant that will be the source of electricity for the entire region. This power plant will be within a few blocks of your house, so you have been given the opportunity to help choose the type o..
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