Immunization Review Flashcards

The government's involvement in general scientific research has been justified on the grounds that advances in knowledge are public goods—once produced, information can be shared for free. A new manufacturing technology in an industry could be made available to all firms, lowering production costs, driving down prices, and benefiting the general public. However, the patent system allows private producers of "new knowledge" to bar others from reaping the benefits of that knowledge. Inventors would have little incentive to create new knowledge if they could not profit from their inventions. If one company has exclusive rights to an advanced manufacturing process, it can produce at a lower cost but also use the exclusion to gain monopoly power and raise prices. a. Is the patent system, on balance, a good or bad thing? Explain. b. Is it a good idea for the government to get involved in scientific research? Discuss.

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psychology

What is the difference between a hypothesis and a theory?

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economics

If the government imposed a federal interest rate ceiling of 20% on all loans, who would gain and who would lose?

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business math

Divide. Round answer to the nearest hundredth. 67.632 $\div$ 3.3

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