For this week’s assignment, pair up and individually come up with two examples of barriers to entry due to promoting innovation so there should be a total of four examples. You can find a listing of these types under Section 9.1 under the sub-heading, “Promoting Innovation”. Specifically, you are being asked to:
- Identify two examples in your town or area. (ALBANY, GA)
- Discuss the four examples together and explain why you think they promote innovation.
- Then answer Critical Thinking Question #28 at the end of Chapter 9 where it asks whether you think it might be a good idea to eliminate or at least limit intellectual protection laws.
- As stated in the syllabus, this textbook is available online for free. I have enclosed a link here: https://openstax.org/details/books/principles-microeconomics-2e
Name:
Date:
Principles of Microeconomics
Week 9 – Monopoly
- Who was your partner for this week’s reflection?
- Identify examples of barriers to entry that promote innovation that you see in your town. These examples are outlined in Section 9.1 of the textbook. Try to come up with two each from each other for a total of four examples.
- After coming up with the list, consider Question #28 under Critical Thinking and determine whether intellectual property laws might hinder innovation in some cases. If not, explain why you think it is important in all cases.