Does the patent system encourage duplicative efforts solely, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics

Basic Economics

Business Economics

International Economics

Managerial Economics

Public Economics

Home >> Microeconomics

In the case of the diamond, duplicative mineshafts were a waste if economic resources and the law makes them unprofitable. Instead of a diamond, what if a number of independent inventors are racing to be the first to obtain a valuable patent and the monopoly it grants. Does the patent system encourage duplicative efforts solely for the chance to be first? Why might you want the patent system to do this?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M951770

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question draw typical home market supply and demand curves

Question: Draw typical Home market supply and demand curves, and then derive import market Home demand curve. After superimposing Foreign export supply over Home import market demand curve for a Small (Home) Country. Sho ...

Question during the improving economic conditions of 2015

Question: During the improving economic conditions of 2015 and early 2016 much additional construction of homes and condos throughout much of the U.S. took place. This provided a significant increase in the income of wor ...

Question advertising can inform buyers but sellers must

Question: Advertising can inform buyers, but sellers must incur costs to advertise. If so, advertising can result in higher prices to consumers. Does this mean advertising is economically inefficient? If not, explain how ...

Explain briefly but clearly the concepts of scarcity and

Explain briefly but clearly the concepts of scarcity and opportunity cost. Provide an example of opportunity cost from either your personal or professional experiences. Remember to include explicit costs (able to be meas ...

Quesiton economic historians have determined that it took

Quesiton: Economic historians have determined that it took about 40 years from the harnessing of electricity for industrial power until it had a significant impact on productivity growth. The same argument is now being u ...

Question fiscal measures may help a recessionary condition

Question: Fiscal measures may help a recessionary condition in the economy. Do you think we are moving towards a recessionary lag under the new administration? If yes, suggest measures to rectify the situation. If not, j ...

Question what are the economic differences during the time

Question: What are the economic differences during the time between Bush and Obama? What are the impacts of these differences on the national debt? The response must be typed, single spaced, must be in times new roman fo ...

Question on the television show jeopardy contestants in the

Question: On the television show Jeopardy contestants in the final round must choose some part of their winnings to bet on their answer to an upcoming question, and the winner's bet is added to the amount he has already ...

Question you and your friend have opened an account on

Question: You and your friend have opened an account on E-Trade and have each decided to select five similar companies in which to invest. You are diligent in monitoring your selections, tracking prices, current events, ...

Question suppose there is a pure exchange economy with two

Question: Suppose there is a pure exchange economy with two goods, A and B. The utility function for consumer i is U(A,B) = A 1 0.5 B 1 0.5 . The utility function for consumer 2 is U(A,B) = A 2 0.25 B 2 0.75 . Consumer 1 ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As