The Polaroid corporation earned a patent for its instamatic camera in the 1960s. If the constitutional length of patent protection is 20 years, why do you believe Polaroid's effective use of its patent ended much earlier?
What will be an ideal response?
The reason is that patents are only valuable for as long as the public values the product. In the 1970s the popular introduction of the 35 mm camera cut into the sales of Polaroid and reduced the economic value of their patent even though the legal life had not yet expired.
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The United States truly became a mass consumption society in
A. the early 1900s. B. the 1920s. C. the 1940s. D. the 1960s.
If leisure is an inferior good, then an increase in wages will cause workers to work more.
Answer the following statement true (T) or false (F)
Refer to the scenario above. What is likely to be the impact on Firm B's sales if none of the firms decide to sponsor the event?
A) A 7% increase in sales B) A 0% increase in sales C) A 2% increase in sales D) A 10% increase in sales
Voters have an incentive to become informed about political issues because the individual's vote is likely to affect the outcome
a. True b. False