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laiz [17]
3 years ago
6

Patent laws create a dilemma. The idea behind patent protection is to provide inventors, entrepreneurs, and firms an incentive t

o innovate and develop new products and ideas. However, the incentive provided is to reward the innovator with the temporary ability to earn monopoly profits, which creates deadweight losses. Of the policies described below, which is most likely to preserve socially desirable incentives to innovate while also reducing inefficiencies?
A) Introducing a system of patent buyouts. The government will purchase most patents from inventors and then \"rip up\" the patent so that others can immediately use the idea and prices will fall.

B) Varying patent protection according to the significance of the good. For products associated with public health, like potentially life-saving medications, patents are not enforced as strictly. Patents for products with only commercial uses will be enforced as usual.

C) Eliminating patent protection altogether. Many existing firms make profits without the benefit of patent law protection, implying that firms will be able to discover other ways to profit from their innovations.

D) Reducing the duration of patent law protection. This would allow firms to recover the costs associated with developing a new product but prevent firms from earning outlandish profits.
Business
1 answer:
solniwko [45]3 years ago
4 0

Reducing the duration of patent law protection. This would allow firms to recover the costs associated with developing a new product but prevent firms from earning outlandish profits.

Answer: Option D.

<u>Explanation:</u>

The major motive and aim of patent is to increase and encourage the motivation of the producers to innovate and produce new things which can increase the efficiency in the process of production. This is done to increase the innovation.

But if the time of patent of a particular good is reduced then the firm will be able to cover it's cost on the innovation but it would not lead to any kind of inefficiencies as others will also be able to use it after patent is over.

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If 135 TV's are sold and cost $275 to produce and is priced at $250, what is the profit/loss?
AleksandrR [38]

Answer:

$25

Explanation:

The production cost is $275.

The selling price is $250

The loss/profit will be: Selling price minus cost price

=$250 - $275

=  -$25

A loss of $25.

If this is the cost for all the 135 TVs, then the loss is only $25.

N:B

If the costs are for one TV, then the loss will be $25 x 135=$3,375

6 0
3 years ago
16. Physical units accounted for are 160,000. Total conversion costs are $387,100. There are 4,000 units in ending inventory whi
Archy [21]

Answer: $2.39

Explanation:

Physical units accounted for = 160,000

Conversion cost = $387100

Number of units will be:

= 160,000 + 50%(4000)

= 160000 + 0.5(4000)

= 160000 + 2000

= 162000

Conversion cost per unit will be:

= 387100 / 162000

= $2.39

6 0
3 years ago
On September 12, Vander Company sold merchandise in the amount of $4,600 to Jepson Company, with credit terms of 2/10, n/30. The
Hitman42 [59]

Answer:

Dr Cash 4,116

Dr Sales discounts 84

Cr Accounts receivable 4,200

Explanation:

Vander Company Journal entry

Dr Cash 4,116

(4,200-82)

Dr Sales discounts 84

Cr Accounts receivable 4,200

Calculation of Sales discounts

4,200*2%

=84

Merchandise

(4,600-400)

=4,200

4 0
3 years ago
Transferable skills necessary for successful employment include _____. A. Basic skills b. Thinking skills c. Personal qualities
Aleonysh [2.5K]

Transferable skills necessary for successful employment include D. All of the above. Basic skills, thinking skills and personal qualities are all transferable skills necessary for successful employment. These skills and qualities are all important when applying for and keeping a job. An employer wants to see an employee that is hard wokring, will think and apply that to the task and work well with others.

3 0
3 years ago
Read 2 more answers
Economic theory is a valuable tool for business decision making because it:
iVinArrow [24]

Answer: The correct answer is "a) Identifies for managers the essential information for making a decision".

Explanation: Economic theory is a valuable tool for business decision making because it identifies for manager the essential information for making a decision since through certain assumptions about essential aspects, it allows managers to test and differentiate the possible results according to the relevant information that it provides to make a decision.

3 0
3 years ago
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