a) When we talk about innovations, the concept of appropriateness is central to economics. Explain what is meant by appropriateness and why it is important for issues related to innovations. We will now look at the development of technology for salmon farming at sea. We assume that the technology does not exist today, but must be developed with costly research and development. We further distinguish between different scenarios and ask you briefly discuss research support in each case. We assume that the state in the first place owns the sea, but can sell licenses for farming in the sea.
a) When we talk about innovations, the concept of appropriateness is central to economics. Explain what is meant by appropriateness and why it is important for issues related to innovations. We will now look at the development of technology for salmon farming at sea. We assume that the technology does not exist today, but must be developed with costly research and development. We further distinguish between different scenarios and ask you briefly discuss research support in each case. We assume that the state in the first place owns the sea, but can sell licenses for farming in the sea.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Production And Growth
Section: Chapter Questions
Problem 8PA
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