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  • Class 14, Quiz 12: To Be Done at Home and Handed in To TA Section Note That You May Work With One Other Person From Your TA Section. Monopoly

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    This document contains an economics class assignment on monopoly that includes: - Instructions for a quiz to be completed at home on monopoly, including showing production quantities and prices on a graph and calculating consumer and producer surplus. - A question asking about justifications for patent protection, whether patents should be restricted, and alternative ways to encourage research beyond patent monopolies. The assignment involves analyzing monopolies through graphs and calculations for a quiz and discussing the tradeoffs of patent protection in encouraging innovation versus monopoly effects.

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    Benedict Li Quiz 12

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    This document contains an economics class assignment on monopoly that includes: - Instructions for a quiz to be completed at home on monopoly, including showing production quantities and prices on a graph and calculating consumer and producer surplus. - A question asking about justifications for patent protection, whether patents should be restricted, and alternative ways to encourage research beyond patent monopolies. The assignment involves analyzing monopolies through graphs and calculations for a quiz and discussing the tradeoffs of patent protection in encouraging innovation versus monopoly effects.

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    © All Rights Reserved
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    15 views1 page

    Class 14, Quiz 12: To Be Done at Home and Handed in To TA Section Note That You May Work With One Other Person From Your TA Section. Monopoly

    Uploaded by

    Ben Li
    This document contains an economics class assignment on monopoly that includes: - Instructions for a quiz to be completed at home on monopoly, including showing production quantities and prices on a graph and calculating consumer and producer surplus. - A question asking about justifications for patent protection, whether patents should be restricted, and alternative ways to encourage research beyond patent monopolies. The assignment involves analyzing monopolies through graphs and calculations for a quiz and discussing the tradeoffs of patent protection in encouraging innovation versus monopoly effects.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
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    Economics 103-2 -3 -4 -5 Professor Friedman

    Your Name(s): Benedict Li Your TA: Lacey Mower

    Spring 2014 Your Section Time and Day: Friday 3:35pm-4:25pm Date March 10th Class 14, Quiz 12: To be done at home and handed in to TA section Note that you may work with one other person from your TA section. Monopoly

    Show the amount that a monopolist would produce (on the horizontal axis) and the price of output (on the vertical axis). Produce: 6 Price: $10 Show consumer and producer surplus as a monopolist. Light gray is Consumer Surplus and Dark grey is Producer Surplus
    Real World Macro 5.1, 5.2

    4. Baker criticizes the monopoly effects of the patent system. What is the justification for patent protection? Do you think that we should restrict patents? Are there other ways we could encourage research? Without monopoly pricing power, almost all firms would go out of business.

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