EEP143+09+Midterm+1+answers+091014

EEP143+09+Midterm+1+answers+091014 - Brian Wright Giannini...

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Brian Wright G iannini 330 642-9213 bwright@are.berkeley.edu EnvEcon 143, Fall 2009 Economics of Intellectual Property Rights and Innovation First Midterm Exam Instructions: Put your name on your Blue Book. Read the whole exam before answering the questions. Each question has equal weight. Answer four (4) questions. Answers need not be long, but they must be to the point. 1. Answer TRUE or FALSE or UNCERTAIN and explain your answer in a few sentences at most: a. A patented invention is a public good. FALSE b. (Heard recently on Sproul Plaza) "A cal student is a public good." FALSE Student is excludable, rival though maybe will offer externalities to society due to her education c. Knowledge is a public good. UNCERTAIN. Not if secret. d. The Statute of Anne initiated patent protection in England. False. Codified copyright. e. A patent issued in Florence preceded the initiation of a patent system in Venice. TRUE Remember Il Badalone? f. Whatever profits Boulton and Watt made after breaking even17 years before their second patent expired were "extra rents from monopoly power and not needed to pay their opportunity costs. So we all agree that, at least for the final 17 years, the patent was not serving any useful purpose…" FALSE. A higher incentive was needed since the project was not certain to succeed. g. The invention of the transistor was the product of a vital venture capital sector. FALSE. It was invented at Bell Labs. h.
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EEP143+09+Midterm+1+answers+091014 - Brian Wright Giannini...

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