1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
laiz [17]
2 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]2 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.

You might be interested in
If national pride in the local capability to make a complex product is the objective of government policy, the best policy strat
Helga [31]
It is always the aim of the government that people take pride with the things that the locals in their land are able to produced. If this is the main aim of the government then, it should be a policy that one should buy the local products first. In line with this, the government may limit the amount of imported goods reaching their area as these imported good may jeopardized the aim to take pride in the local ones. 
7 0
2 years ago
When Sheri, a socialite, got some bad publicity for her recent choice of evening wear, she decided to change designers. However,
valentinak56 [21]

Answer:

The correct answer is the option C: Relational switching cost.

Explanation:

To begin with, the concept known as <em>''switching cost'' </em>in the field of business, basically refers to all the costs involved in the procedure of switching from a supplier to a new one. Moreover, this term also involves many different types, such as financial switching costs, procedural switching costs and relational switching costs.

To continue, the third one, <em>the relational switching cost</em> refers to the situation where a company has changed its supplier and a big loss of identification and emotional bonds changed as well with it. Furthermore, when relational switching costs take place the personal relationships between the people involved in the transactions of the company are lost and that generates an impact in the new relationships with the new supplier.

5 0
2 years ago
When a project team member is not performing, rewards may not prove as effective as a coercive approach that threatens the team
REY [17]

Answer:

True

Explanation:

Workplace coercion is used to alter the belief system and values of an organisation. It creates   unhealthy work environment. In workplace coercion strength and power are used to force employees to increase productivity. It can also include threats. Such tactics are used to get better results from employees.

It  workplace coercion continues for a long time it can demoralise the employees. It is also problematic for the organisation to use its human resources effectively.

Although employees try to adapt and learn the work, coercion can lead to absences.

5 0
3 years ago
Suppose we are a distributor that uses safety stock and a reorder point for inventory management. If we can find a more consiste
Ulleksa [173]

Answer:

The answer is False. By cutting the variance of the demand during lead time to 1/2 its original value while maintaining the same lead times, the new safety stock will also drop to 1/2 its original value.

Explanation:

Safety stock is a form of inventory management that provides an additional unit of an item held as a buffer i order to mitigate risk of running out of stock.

A reorder point provides a buffer of time to restock items when stock is running out. It helps to reduce operational costs and chaos that may arise  such as rush fees owed to suppliers. It makes the use of a warehouse space more efficient.

Suppose we are a distributor that uses safety stock and a reorder point for inventory management. If we can find a more consistent manufacturer that will maintain the same mean lead times while cutting the variance of the demand during lead time to 1/2 its original value, the new safety stock that we need to carry to achieve the same service level will also drop to 1/2 its original value.

6 0
3 years ago
If the money supply is $6,000, velocity is 5, and Real GDP is 10,000 units of output, then the price level is _____________. If
atroni [7]

Answer and Explanation:

The computation is shown below:

The Price level in the normal case

= Money supply ÷ Real GDP × Velocity

= $6,000 ÷ 10,000 units × $5

= $3

Now in the case when the money supply doubled i.e $12,000

So, the price level is

= Money supply ÷ Real GDP × Velocity

= $12,000 ÷ 10,000 units × $5

= $6

When the money supply doubles, the price level is also doubled that indicated the direct relationship between the price level and money supply

8 0
3 years ago
Other questions:
  • Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transact
    8·1 answer
  • Lynda Jones College Plan On her 10th birthday Linda Jone's parents decide to deposit $4,000 in a 529 account for their daughter
    9·1 answer
  • Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's
    11·1 answer
  • When only certain EOC team members or organizations are activated to monitor a credible threat, which Activation Level has been
    5·1 answer
  • The demand for salt is inelastic, and the supply of salt is elastic. The demand for caviar is elastic, and the supply of caviar
    13·1 answer
  • Effective teams avoid groupthink by striving for team diversity, encouraging open discussion, and what?
    13·1 answer
  • An investment of $9,875 earns 4.8% interest compounded monthly over 12 years. approximately how much interest is earned on the i
    6·2 answers
  • A family with an income of 70,000 receives a raise of 2% in a year when inflation is 5%. Find the decrease in purchasing power.
    13·1 answer
  • able below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price (dollars) Quantity Demanded
    11·1 answer
  • Review of the 15-inch HUAWEI MateBook D15 laptop
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!