« previous next »

Author Question: There is a shortage of every good that is scarce. Indicate whether the statement is true or ... (Read 41 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?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

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
True Friendship True Friendship
Example of an Explanation of Benefits statement. Example of an Explanation of Benefits statement.
Good ethical judgment comes from both learning and experience. Good ethical judgment comes from both learning and experience.
Good body mechanics for sitting on chair while performing massage. A. Sit with back and head in ... Good body mechanics for sitting on chair while performing massage. A. Sit with back and head in ...
Oatmeal and other whole grain cereals are good sources of carbohydrates to start your morning off Oatmeal and other whole grain cereals are good sources of carbohydrates to start your morning off
Video: Second Messengers in the Inositol-lipid Signaling Pathway

For a complete list of videos, visit our video library