What type of market structure the honeycrisp

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In the 1980s, there were far fewer apple varieties than there are available today. In the early 1990s, researchers at the University of Minnesota patented the seeds for the now-popular Honeycrisp apple variety they bred. As that patent nears expiration, explain how this market will change. Explain what type of market structure the Honeycrisp was in in 2001. Were long run profits possible? Why or why not? What type of market structure will the Honeycrisp apple be in in 2016 when the patent will have expired? Are long run profits possible? Why or why not?

Reference no: EM131393582

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