1. If the Bill and Melinda Gates Foundation were to buy out and destroy the pate
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Question
1. If the Bill and Melinda Gates Foundation were to buy out and destroy the patent for Combivir, which of the following would NOT be one of the effects? A. The price of Combivir would fall B. The number of people treated with Combivir would rise C. Drug companies would have no incentive to create new and better drugs2. Because Colgate owns patent number 5,544,091, only Colgate sells toothpaste with a flip top cap, while others use the more traditional screw top. A patent probably wasn't a necessary incentive for Colgate to develop the flip top cap, so why did they patent the cap? A. To establish market power B. To increase consumer demand for toothpaste C. To decrease fixed costs D. To decrease the marginal cost of production
3. To better feed his army, Napoleon established a technology prize that led to the development of canning in 1809. Napoleon required the inventor to publish the method. Napoleons reign as emperor ended after his defeat at Waterloo, a defeat which might not have been so decisive had canned food not made Its way to the enemies mouths. By demanding the inventor to publish his method, what did napoleons force the inventor to give up?
A. Consumer surplus B. Economies of scale C. Deadweight loss D. A monopoly
4. Economies of scale are:
A. The advantages of small-scale production that reduce average cost as quantuty decreases B. The advantages of large-scale production that reduce average cost as quantity increases C. Countries that specialize in selling devices for measuring weight D. Regulations that specify a minimum firm size
Please explain the reasons for your answers and only answer if you are confident!! Thank you! 1. If the Bill and Melinda Gates Foundation were to buy out and destroy the patent for Combivir, which of the following would NOT be one of the effects? A. The price of Combivir would fall B. The number of people treated with Combivir would rise C. Drug companies would have no incentive to create new and better drugs
2. Because Colgate owns patent number 5,544,091, only Colgate sells toothpaste with a flip top cap, while others use the more traditional screw top. A patent probably wasn't a necessary incentive for Colgate to develop the flip top cap, so why did they patent the cap? A. To establish market power B. To increase consumer demand for toothpaste C. To decrease fixed costs D. To decrease the marginal cost of production
3. To better feed his army, Napoleon established a technology prize that led to the development of canning in 1809. Napoleon required the inventor to publish the method. Napoleons reign as emperor ended after his defeat at Waterloo, a defeat which might not have been so decisive had canned food not made Its way to the enemies mouths. By demanding the inventor to publish his method, what did napoleons force the inventor to give up?
A. Consumer surplus B. Economies of scale C. Deadweight loss D. A monopoly
4. Economies of scale are:
A. The advantages of small-scale production that reduce average cost as quantuty decreases B. The advantages of large-scale production that reduce average cost as quantity increases C. Countries that specialize in selling devices for measuring weight D. Regulations that specify a minimum firm size
Please explain the reasons for your answers and only answer if you are confident!! Thank you! A. The price of Combivir would fall B. The number of people treated with Combivir would rise C. Drug companies would have no incentive to create new and better drugs
2. Because Colgate owns patent number 5,544,091, only Colgate sells toothpaste with a flip top cap, while others use the more traditional screw top. A patent probably wasn't a necessary incentive for Colgate to develop the flip top cap, so why did they patent the cap? A. To establish market power B. To increase consumer demand for toothpaste C. To decrease fixed costs D. To decrease the marginal cost of production
3. To better feed his army, Napoleon established a technology prize that led to the development of canning in 1809. Napoleon required the inventor to publish the method. Napoleons reign as emperor ended after his defeat at Waterloo, a defeat which might not have been so decisive had canned food not made Its way to the enemies mouths. By demanding the inventor to publish his method, what did napoleons force the inventor to give up?
A. Consumer surplus B. Economies of scale C. Deadweight loss D. A monopoly
4. Economies of scale are:
A. The advantages of small-scale production that reduce average cost as quantuty decreases B. The advantages of large-scale production that reduce average cost as quantity increases C. Countries that specialize in selling devices for measuring weight D. Regulations that specify a minimum firm size
Please explain the reasons for your answers and only answer if you are confident!! Thank you!
Explanation / Answer
1. If the Bill and Melinda Gates Foundation were to buy out and destroy the patent for Combivir, which of the following would NOT be one of the effects?
First two options are the effects of such a destroy, as once patent is destroyed, there will be a no. of people making Combivir, which would lead to increased no. patients being cured and also price would fall.
On the other hand, destroying such a patent does not mean that there would be no incentive to create a better technology. There is always scope and incentive also to create a better technology than Combivir.
Option C is correct.
2. Because Colgate owns patent number 5,544,091, only Colgate sells toothpaste with a flip top cap, while others use the more traditional screw top. A patent probably wasn't a necessary incentive for Colgate to develop the flip top cap, so why did they patent the cap?
Most of the patents are aimed at increasing market power or being better than the competitors in the market not allowing them to use your technology. Thus option A is correct.
3. To better feed his army, Napoleon established a technology prize that led to the development of canning in 1809. Napoleon required the inventor to publish the method. Napoleons reign as emperor ended after his defeat at Waterloo, a defeat which might not have been so decisive had canned food not made Its way to the enemies mouths. By demanding the inventor to publish his method, what did napoleons force the inventor to give up?
If such a technology or way of doing is not published, there is only one person in the market producing with such technology. Thus Napoleon clearly ordered the inventor to give up Monopoly.
4. Economies of scale are:
Economies of scale are the reductions in the cost enjoyed by firms when production increases over time. Over time, there is something called organisational learning, which means that as you produce more and more, you learn to become more proficient and efficient and thus costs goes on reducing significantly.
Thus option B is the correct answer. Economies of scale is the advantages of large scale production that reduce average cost as quantity increases.
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