Government regulations stipulate that inventors will keep complete legal rights to their respective inventions for O trade secret; an unlimited time o trademark, an unlimited time e copyright; a limited time patent, a limited time
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A: OUTPUT TC MC ATC 25,000 1,00,000 0.50 50,000 1,50,000 1 75,000 1,87,500 2.5 1,00,000…
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Government _______ regulations stipulate that inventors will keep complete legal rights to their respective inventions for ________.
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- Consider the famous A????1diamond-water paradoxA????1: water is necessary for life and extremely useful, but is very cheap on a per gallon basis (NYC charges $3.70 for 748 gallons), while diamonds are not much use for most things, but extremely expensive on a per unit basis (a one-carat colorless diamond with good proportions and good certification is trading at about $9500 this week). Even though a diamond is more expensive than a gallon of water, you would probably rather have a gallon of water on a lifeboat than a diamond. For modern New Yorkers, are the gallons of water needed to sustain life marginal or infra-marginal? Does the cheapness of water increase or decrease the consumer surplus realized from it? Does the expensiveness of diamonds increase or decrease the consumer surplus realized from them? Is market price the value to the consumer of the marginal unit or of an infra-marginal unit? Make a distinction between market price and consumer surplus and resolve the diamond-water…If one assumes that automobile transportation costs from South Korea to France surpass the price differential in autos that existed before trade between South Korea and France, then, in similar cases trade is:a. Unattainableb. Probablec. Very profitabled. Marginally profitableIn the post lockdown scenario it is expected that with economic activity slowing down,impacting buying power of consumers, demand will shift towards smaller cars or low price carsand first time buyers. MarutiUdhyog Ltd.(MUL) is faced with a dilemma. If it retains its presentlevel of profit margin, it will continue to lose its market share and if it cuts down the price toretain the demand for its car and its market share it loses the profit volume. What in youropinion should be the objective of MUL.
- Assume that a country is endowed with 8 units of oil reserve. There is no oil substitute available. How long the oil reserves will last ifa) the marginal willingness to pay for oil in each period is given by P=8-0.57q. (b) the marginal cost of extraction ofol s constant at $4 Per unit and c) discount rate is 1%?Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?Corporations exist as legal entities with certain advantages (such as limited liability)because society allows them to do so, and these corporate rights and advantages can beremoved from firms that are perceived to be irresponsible. Companies that think abouttheir social responsibility in this light are engaging in CSR for what type of reasons? O. StrategicO. RegulatoryO. EthicalO. Pragmatic
- A major South African city generates electricity and sells it to its consumers. The city faces competition from independentrenewable power producers who also have licences to sell electricity to the public. The city however has cost advantagesdue to its size, but it is concerned of the political and economic ramifications of raising its tariffs, in these uncertaineconomic times. As a result, it is highly likely that tariffs will remain unchanged over the next financial year. The city’smarginal revenue is given as R3 000, and its costs are given as follows:TC = R82 000 + R1 000 + 0.01q2 MCMC= R1 000 + R0.02q4.1 Assess the efficiency arguments in favour of and against the renewable energy generation in SouthAfricaConcern over politically controlled supply and finite availability of non-renewable energy resources such as crude oil and natural gas has prompted large crude oil-consuming nations to seek alternate renewable energy sources. Furthermore, environmental concerns associated with carbon dioxide and other greenhouse gas emissions have prompted countries with large agricultural tracts of land to seek and develop clean, renewable biofuels that are not only environmentally friendly, but which also contribute to sustainable eco-nomic growth and energy security. Developing biofu-els does not need to be a panacea, however, real chal-lenges must be overcome to prevent economic costs from exceeding social benefits. For example, countries should take extreme care in implementing national biofuel policies because in the rush to energy indepen-dence, more pollution may occur, and resources…The marginal benefit of being able to emit a ton of sulfur dioxide emissions for two firms are given by:MBX = 1000 – ( Ex / 2 )MBY = 600 – ( Ey / 3 ) Note that these marginal benefit figures can be interpreted as marginal cost of abating emission down to levels Ex and Ey.Government regulators want to reduce total sulfur dioxide emissions to a total of 1800 tons.a) If the government imposes the same standard of 900 tons maximum emissions on both firms what would be the total cost of abatement (calculated as the aggregated marginal benefits forgone)? b) If the government distributed 900 tradable pollution permits (one ton each) to each firm what would be the final allocation of these permits after the firms trade them?c) What would be the total cost of abatement in this latter case?
- Explain why non-use, or passive use values, cannot be valued either by observing their prices in markets or with revealed preference techniques. Finally, explain how stated preference techniques can be used to estimate non-use value.The pipeline industry has approximately 100 companies, as compared to the motorcarrier industry with more than 50,000. What are the underlying economic causes forthis difference, given the fact that they both carry approximately the same volume ofintercity ton-miles?Will a system of marketable permits work with thousands of films? Why or why not?
