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- 1. A U.S. patent for the drug that most effectively treats HIV prevents other drug companies from producing a comparable substitute for patients. a. What is the effect of patent protection on the demand for a drug? How does the shape of the demand curve differ before and after a patent has expired? Support your explanation with a graph. b.Demand curves respond to preferences, income, and costs of substitute and complements. Discuss how these factors determine a country’s demand for HIV treatments. How might the effects of the patent protection differ across countries?Under which circumstances is patent protection most necessary? Where information about technological improvements disseminates slowly Where information about technological improvements disseminates rapidly In a market with few sellers Where the cost of research and development is very low36. Number of Sellers: The government has granted a patent to a drug company for an experimental cancer drug. That company is the only firm permitted to sell the drug * (1 Point) Select your answer Many Few a patent to a drug company for an experimental mitted to sell the drug * 37. One 37. Type of product: The government has granted a patent to a drug company for an experimental cancer drug. That company is the only firm permitted to sell the drug * (1 Point) Select your answer Differentiated Standardized (Identical) patent to a drug company for an experimental mitted to sell the drug * 38. Unique 38. Market Model: The government has granted a patent to a drug company for an experimental cancer drug. That company is the only firm permitted to sell the drug * (1 Point) Select your answer Perfect Competition Oligopoly Monopolistic Competition Monopoly
- 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?Give typing answer with explanation and conclusion When a pharmaceutical company discovers a new drug, patent law gives it market power by guaranteeing: Question 7 options: sole ownership of the right to sell the drug for a limited number of years. partial ownership of the right to sell the drug for an unlimited number of years. sole ownership of the right to sell the drug for an unlimited number of years. partial ownership of the right to sell the?What are (3) defining differences between a Patent and a Provisional patent?
- 16. Why do governments grant patents and copyrights for some goods? What determines how long governments ideally should let them last? Explain your logic.Hi! Can you please let me know what formula should be use here.Several Governments in CARICOM nations are reluctant to allow the provision of telecommunication services by multiple providers. They prefer that a Government Agency provides these services as they believe that consumers will be protected. However the revenue they gain should not be ignored as a possible motive. A recent study found that 8 countries out of the 15 in the CARICOM nations’ have telecommunication services being provided by the a state company. For example, in St. Lucia, De Phone is the sole provider of telecoms. They offer discounts to senior citizens and students and also provide a lower price for individual who purchase multiple plans. Of note, the remaining CARICOM nations, including Trinidad and Tobago, have opened their markets to competition. These countries have seen increased advertising among competitors to market their product. State what market structure exists in St. Lucia and illustrate how equilibrium price and quantity determined in this industry with graphs
- Several Governments in CARICOM nations are reluctant to allow the provision of telecommunication services by multiple providers. They prefer that a Government Agency provides these services as they believe that consumers will be protected. However the revenue they gain should not be ignored as a possible motive. A recent study found that 8 countries out of the 15 in the CARICOM nations’ have telecommunication services being provided by the a state company. For example, in St. Lucia, De Phone is the sole provider of telecoms. They offer discounts to senior citizens and students and also provide a lower price for individual who purchase multiple plans. Of note, the remaining CARICOM nations, including Trinidad and Tobago, have opened their markets to competition. These countries have seen increased advertising among competitors to market their product. State what market structure exists in Trinidad and Tobago. Explain if excess profit will exist in the long run.Several Governments in CARICOM nations are reluctant to allow the provision of telecommunication services by multiple providers. They prefer that a Government Agency provides these services as they believe that consumers will be protected. However the revenue they gain should not be ignored as a possible motive. A recent study found that 8 countries out of the 15 in the CARICOM nations’ have telecommunication services being provided by the a state company. For example, in St. Lucia, De Phone is the sole provider of telecoms. They offer discounts to senior citizens and students and also provide a lower price for individual who purchase multiple plans. Of note, the remaining CARICOM nations, including Trinidad and Tobago, have opened their markets to competition. These countries have seen increased advertising among competitors to market their product. i. State what market structure exists in St. Lucia and illustrate how equilibrium price and quantity determined in this industry.Draw…How can patents speed up the process of creative destruction? How can patents slow down the process of creative destruction? How do differences in manufacturing costs affect which industries would be most likely to be affected by the removal of patents?
