Homework5 - 10/13/10 7:59 PM Homework 5 Completed 140 out...

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10/13/10 7:59 PM Homework 5 Completed 140 out of 140 points
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Question 1 10 out of 10 points Suppose that the government decided to reduce pharmaceutical patent protection by requiring companies to sell their drugs at marginal cost. What are the likely consequences of such a policy? Answer Selected Answer: Correct Answer: Question 2 10 out of 10 points In one neighborhood of Houston suburb, there are two gasoline suppliers: an H.E.B. station and an independent gas station. During the day when the H.E.B. station is open, prices at the two outlets are identical. At night, with the H.E.B. station closed, the independent station posts a price that is 2 cents above the price that they both charge in the day. What’s the best explanation of this phenomenon? Answer Selected Answer: Correct Answer: Question 3 10 out of 10 points Which of the following is not a reason that monopolies arise? Answer
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This note was uploaded on 06/15/2011 for the course ECO 304K taught by Professor Hickenbottom during the Fall '10 term at University of Texas at Austin.

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Homework5 - 10/13/10 7:59 PM Homework 5 Completed 140 out...

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