--%>
Assignment Help - homework help

Motivation behind granting patent rights

Describe the motivation behind granting patent rights.

Answer: Motivations behind granting the patent rights are shown below:

(i) To motivate research and development

(ii) To motivate new discoveries and innovations.

   Related Questions in Microeconomics

  • Q : Characterization of markets Each and

    Each and every market is characterized by: (i) Widespread advertising, marketing, and sales promotions. (ii) Demands from each and every individual for all products. (iii) Potential buyers ready to pay and potential sellers ready to supply. (iv) Government licenses pr

    		•
  • Q : Purely-competitive long-run equilibrium

    The typical firm produces in a purely-competitive long-run equilibrium where price equals as: (1) short-run average cost. (2) marginal cost. (3) long-run average cost. (4) average revenue per unit. (5) All of the above.

    Q : Increases profit of a firm when output

    A firm would raise profits when it: (w) decreased output when MR > MC. (x) expanded output while MR > MC. (y) increased output when MC > MR. (z) shut down since MR = MC. Hello guys I want your advice. Plea

    		•
  • Q : Social Welfare and Labor Market

    The labor market functions inefficiently when labor is hired only up to a point where, for last worker: (1) VMP = w. (2) VMP minus MRC surpasses zero and is maximized. (3) P x MPPL = w. (4) Added net revenue equivalents added net cost.

    Q : Profit maximization-output level in

    Profit maximization needs a purely competitive firm to manufacture at an output level where: (i) marginal revenue > marginal cost. (ii) marginal cost equals the competitive price. (iii) marginal cost is falling. (iv) marginal reven

    		•
  • Q : Demand of consumers-supply of seller

    Consumers’ demand prices and sellers’ supply prices may be different in equilibrium due to: (w) arbitrage. (x) expectations about availability. (y) the invisible hand. (z) government subsidies or tax wedges.

  • Q : Reduce output to increase profit

    When the last unit produced as well as sold adds $75 to a profit-maximizing firm’s revenue with $100 to its costs, in that case the firm will: (w) increase output to increase profit. (x) reduce output to increase profit. (y) maintain similar lev

    		•
  • Q : Preference current consumption over

    When the preference for current consumption over future consumption weakens, in that case the: (w) interest rate rises. (x) interest rate falls. (y) present value of future income falls. (z) equilibrium level of investment falls.

    		•
  • Q : Lexicographic preference ordering I

    I have problem in this question. What is lexicographic preference ordering? Provide me correct answer of this.

    		•
  • Q : Total revenue raised by output

    A firm’s total revenue can definitely be raised by decreasing its output when: (1) its supply curve is perfectly price inelastic. (2) the demand curve for its output is relatively income inelastic. (3) this is currently losing money each period.

    		•