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- What is die difference between accounting and economic profit?If Congress reduced the period of patent protection from 20 years to 10 years, what would likely happen to the amount of private research and development?Each time a song is played on the radio, the record company and the songwriter are paid a royalty of $0.30.Of the total, 75% goes to the company and the rest to the writer. If on a network of 50 radio stations, a certainsong is played 4 times a day during the first week and then 20 times a day for the next three weeks, how muchdoes the network owe in royalties for the four weeks? How much do the record company and the songwriterreceive each
- What are some arguments on the cons of Patent and copyright protections should be less strictly enforced? Please provide at least 3 paragraphs with diffent arguments(a) Why MUL is called a monopoly? Does it enjoy monopoly in car manufacture? (b) In what way do customers surfer from monopoly practices of MUL. (c) What do you suggest to remedy the situation?Envision that the territory of South Dakota chooses to put resources into K-12 instruction by taking care of the expense of a Computers for each student. It concludes that it will contribute $15 billion today since it accepts it will result in $22 billion of advantages in 5 years, and an extra $52 billion of every 20 years. Utilizing a rebate pace of 0.05, is the undertaking a Kaldor-Hicks working on one? Should the province of South Dakota seek after the speculation? Do you believe that outcome would change with a rebate pace of 3%? 7%? You don't have to work out these in calculation; simply examine what might almost certainly happen to the end-product.
- As an international manager of a US business that has just developed, I would export the computer from the US because I will have full control of how the computer will be manufactured and distributed to Europe. Another pro that I would consider to export from the US is that the patent would be able to protect the design of the computer, which will reduce the result of the property being an infringement. A con from exporting from the United States that it would cost more money from the taxes, duties, and the trade barriers that are from Western Europe. Another con would be that it would take much longer to exist something from over seas. First, I will start with the cons of the process where you might not have full control over the manufacturing process, which can really impact the product of the computer. This can significantly be a bad idea. A pro of having to license a European firm to manufacture and market the computer in Europe would be how they know all of the distribution…In the equation below, how did the professor get 14? Profits=P*Q-(3-5Q) Where P is 7.5 and Q is 2.5 Profits=7.5*2.5-3-5(2.5) I understand how he got the 18.75 (7.5*2.5=18.75), but I don't understand how he got 14 as the answer to -3-5(2.5). But I could also being going about this completely incorrectly ...What is the free rider problem?
- May and Raj me the only two growers who provide organically grown corn to a local grocery store. They know that if they cooperated and produced less corn, they could raise the price of the com. If they work independently, they will each earn 100. If they decide to work together and both lower their output, they call each earn 150. If one person lowers output and the other does not, the person who lowers output will earn $1 and the other person will capture the entire market and will earn 200. Table 10.6 represents the choices available to Mary and Raj. What is the best choice for Raj if he is sole that Mary will cooperate? If Mary thinks Raj will cheat, what should Mary do and why? What is the prisoners dilemma result? What is the preferred choice if they could ensure cooperation? A = Work independently; B = Cooperate and Lower Output. (Each results entry lists Rajs earnings first, and Marys earnings second.)Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the firm produces a quantity of 5 units that it sells for a price of 25 each. What will be the companys profits or losses? How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? At the given quantity and price, is the marginal unit produced adding to profits?Return to Figure 9.2. Suppose P0 is 10 and P1 is 11. Suppose a new firm with the same LRAC curve as the incumbent tries to bleak into the market by selling 4,000 units of output. Estimate from the graph what the new firms average cost of producing output would be. If the incumbent continues. to produce 6,000 units, how much output would the two films supply to the market? Estimate what would happen to the market price as a result of the supply of both the incumbent firm and the new entrant. Approximately how much profit would each firm earn? Figure 9.2 Economics of Scale and Natural Monoploy
