This topic contains a solution. Click here to go to the answer

Author Question: What is a patent race? What will be an ideal response?[br][br][b][color=gray]Question ... (Read 72 times)

imanialler

  • Hero Member
  • *****
  • Posts: 539
What is a patent race?
 
  What will be an ideal response?

Question 2

When the price of good X rises, the demand for good Y falls. Explain what this relationship implies about the two goods.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

heinisk01

  • Sr. Member
  • ****
  • Posts: 329
Answer to Question 1

A patent race refers to a winner-take-all race. Suppose two investors are racing to develop an invention or to patent a discovery. The investor whodevelops the invention first or files the patent first will reap all the benefits. Although the other investors may have invested the same amount of money in research and development as the investor who filed the patent, they will not get any return on their investment.
A-head: DIVERSIFICATION
Concept: Patent race

Answer to Question 2

Goods X and Y must be complements. When the price of good X rises, the quantity of good X demanded will fall. If the demand for Y also falls, the two goods must be used together.




imanialler

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


samiel-sayed

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

For a complete list of videos, visit our video library