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a firm has a propietary technology and demand for technology is given by Q=5-4p, where q is the quantity demanded for the licenses of the
a firm has a propietary technology and demand for technology is given by Q=5-4p, where q is the quantity demanded for the licenses of the technology per year, and p is the price of the licenses.
1.what is the total consumer surpluss generated by the patent over its life (including the time after the patent expires)?
2.What is the social value of the patent?
3.If the government buys the patent form the firm. How much does the government needs to pay for the patent?
4.what does Michael kremer suggest the government do in this case,
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