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Patents and the Nature of Knowledge
A new life-saving drug is developed, and the pharmaceutical company that created it obtains a patent. This patent legally prevents other companies from producing the drug for 20 years. Explain why the underlying knowledge of how to create the drug can still be considered a pure public good, even though the drug itself is made legally excludable by the patent.
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
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