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3 years ago

How do patents encourage technological progress

1 answer:

7 0

Patents are used to balance the right of the individual with the concept of the public good. In general, the purpose of a patent is two-fold: to allow the inventor of some new thing to retain exclusive rights as to its use for a limited period of time, and after that time to ensure that the details of the invention are available for public use.
By granting the patent-holder exclusive rights to their invention, use and duplication of the invention is at the sole discretion of the inventor, potentially allowing them to profit from it. However, after a period of time those exclusive rights cease to apply, and the new invention becomes available to the public. This contributes to the public good by increasing the amount of general knowledge available.

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6 0

3 years ago

Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with informatio

MrRissso [65]

Answer:

Cost of completed WIP: 30,240

Total cost of tranferreed-out: 729,990

Explanation:

We assume it works with weighted-average process costing

Beginning 9,000 50% = 4,500 $22,050

Finished goods 207,000 units

Direct Materials 212,000 units at $1.6

Direct labor $276,000

Overhead $ 107,400

Total Overhead $383,400

started 212,000 units

finished 207,000 units

ending 5,000 units at 75%

EU Conversion Cost 207,000 + 5,000 x 75% = 210,750

Cost per equivalent unit: 383,400 / 210,750 = 1,819217

Cost of beginning WIP comepleted

22,050 beginning + 1.82 x 4,500 = 30,240

Cost of the units transferred to finished goods:

22,050 beginning WIP balance

+ 207,000 x $1.6 materials

+ 207,000 x $1.82 conversion cost

Total: 729,990

7 0

3 years ago

Later movers do not face: entrenched competitors. reduced uncertainty over technologies. high growth markets. lower market uncer

Maksim231197 [3]

Later movers do not face high growth markets. Later movers are also referred to late followrs or later market entrants. These businesses enter the market after the market has been established. By joining the market later, they have an advantage because they can see what kinks have been worked out by other companies, what has worked and was hasn't worked.

5 0

3 years ago

Floyd and Gert enter into a contract by which Floyd promises to deliver fertilizer to Gert. Floyd subsequently transfers this du

Lerok [7]

Answer: an obligor

Explanation:

From the question, we are informed that Floyd and Gert enter into a contract by which Floyd promises to deliver fertilizer to Gert and that Floyd subsequently transfers this duty to Hazel.

In this case, Floyd is an obligor. An obligor os defined as an individual who by contract or due to a legal procedure, undertakes an obligation for another individual.

7 0

3 years ago

Frankfurter Company, a U.S. company, had a ruble receivable from exports to Russia and a euro payable resulting from imports fro

IgorC [24]

Answer:

The correct option is C.

Explanation:

Foreign exchange gain or loss is the gain or loss made on transactions based on the movement in the exchange rates.

Ruble receivable from export to Russia: For Frankfurter Company to have recorded a foreign exchange loss, as at the time the transaction was consummated the exchange rate would have been higher compared to the rate of settlement. For example, if 1 ruble = $1.5 on April 1 (when the export was made), on settlement date, it moved to 1 ruble = $1.4, the company would suffer a loss of $0.1. You just need to multiply this $0.1 by the value of the exports.
Euro payable from imports from Italy: For the company to have suffered a foreign exchange loss, it means the exchange rate was not favorable at the time of settlement of the payment - means the exchange rate moved higher.

4 0

3 years ago