Evaluate the different market structures


Assignment:

Discussion 1

The Ethics of Big Data

Prior to beginning work on this discussion, read Ellen Martin's article, The Ethics of Big Data.

Based on the article's content, respond to the following:

  • Describe the microeconomic principles being used. What is the impact for demand?
  • Evaluate the different market structures that big data benefits the least and the most from.
  • While data collection may benefit the business community, discuss the concerns for consumers as big data proliferates.

Your initial post should be a minimum of 300 words.

Discussion 2

Barriers to Entry

Patents are granted for 20 years, but pharmaceutical companies cannot use their patent-guaranteed monopoly powers for anywhere near this long because it takes several years to acquire Food and Drug Adminstration (FDA) approval of drugs.

  • What purposes do barriers to entry created by the government serve?
  • What are other barriers to entry in the pharmaceutical industry?
  • Should drug patents be extended to 20 years after FDA approval?
  • Explain what would be the costs and benefits from this extension.

Your initial post should be a minimum of 300 words.

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Business Law and Ethics: Evaluate the different market structures
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