Suppose that many years ago, one inventor received a patent for orange juice, and then another inventor

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Suppose that many years ago, one inventor received a patent for orange juice, and then another inventor came forward and requested a patent for lemonade. The first inventor maintained that the orange juice patent should be interpreted to cover all fruit juices, whereas the second inventor argued that the original patent included only one particular method of producing one kind of juice. What trade-off s does society face in setting rules for deciding cases such as these?

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Economics Of The Public Sector

ISBN: 9780393925227

4th Edition

Authors: Joseph E. Stiglitz, Jay K. Rosengard

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