« previous next »

Author Question: There is a shortage of every good that is scarce. Indicate whether the statement is true or ... (Read 69 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?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

When teenagers live in single-parent homes, a good relationship with grandparents is related to ... When teenagers live in single-parent homes, a good relationship with grandparents is related to ...
Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ... Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ...
Good contact feels full, confident, and deliberate and establishes a warm connection between massage ... Good contact feels full, confident, and deliberate and establishes a warm connection between massage ...
A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water. A good disinfecting solution you can make yourself consists of 1 part bleach to 10 parts water.
Rice noodles are a good gluten-free substitute for pasta Rice noodles are a good gluten-free substitute for pasta
Potatoes are a good source of complex carbohydrates Potatoes are a good source of complex carbohydrates
Video: Simple Diffusion - gases and nonpolar compounds transport

For a complete list of videos, visit our video library