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 41 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


daiying98

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Excellent

 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

For a complete list of videos, visit our video library