« previous next »

Author Question: There is a shortage of every good that is scarce. Indicate whether the statement is true or ... (Read 48 times)

bucstennis@aim.com

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
There is a shortage of every good that is scarce.
 
  Indicate whether the statement is true or false

Question 2

What would be the economic dangers of eliminating patent protection in the pharmaceutical industry as a means of eliminating monopoly power?
 
  What will be an ideal response?


bfulkerson77

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

It is certainly true that in some cases patents allow companies including pharmaceutical firms to enjoy a legal monopoly albeit a temporary one. However, eliminating patent protection could lead to the result of fewer drugs being brought to market. The reason is that the profit potential will be removed when firms know that their discoveries and expensive research can easily and legally be reproduced by rival firms.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

True-color view of Mars seen through NASA's Hubble Space Telescope in 1999 True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
Which of the following statements is true of linkage? Which of the following statements is true of linkage?
A severe food shortage occurred in the Netherlands during the “Hunger Winter” of 1944–1945. A severe food shortage occurred in the Netherlands during the “Hunger Winter” of 1944–1945.
Nuts are also a good source of dietary fibre Nuts are also a good source of dietary fibre
Nuts are also a good source of B group vitamins (including folate), and vitamin E Nuts are also a good source of B group vitamins (including folate), and vitamin E
Too Much Alcohol Costs You Good Nutrition Too Much Alcohol Costs You Good Nutrition
Video: Hemoglobin's affinity with oxygen - carbon dioxide, temperature and bisphosphoglycerate (BPG)

For a complete list of videos, visit our video library