Question: In Question 6 1 with an R D cost of 150
In Question 6.1 with an R& D cost of 150 suppose that the government waits until Woz works out the new process and then changes patent rules, requiring Woz to charge a price no greater than 12. Does Woz stay in business? What happens to consumer surplus and to total surplus? Why don’t governments impose such price controls on patented processes and products?
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