LEGL3009 Law For Social Work And The Social Sciences

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LEGL3009 Law For Social Work And The Social Sciences

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LEGL3009 Law For Social Work And The Social Sciences

0 Download3 Pages / 522 Words

Course Code: LEGL3009
University: The University Of Newcastle

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Country: Australia

Question:

Law essay style done, by summarising all the information from this article with all the important questions i’ve listed below, all 100% in your original own words but take only the resources in this article, that i’ve find.
 
The information in this essay. on your own words and follow the word count on each topic. Write the Head topic of the paragraph. only take the main important information and summarise it accordingly.
 
I. Introduction 1.1 What is the issue?1.2 Politics and definitional problems1.3 Who is involved?
 
II. Examples of Use and Misuse of Indigenous Knowledge2.1 AVEDA and ownership of the word ‘Indigenous’2.2 Registration of batik designs in Indonesia2.3 Traditional knowledge and Bikram Yoga2.4 Genetic information, databases of DNA and the Genographic Project2.5 San/Hoodia case and access and benefit-sharing2.6 The Bugis creation story and the theater production I La Galigo2.7 Lego and the use of Maori names
III. Current Proposals: Dangers, Problems and Opportunities3.1 Current proposals3.2 Proposals that modify the current intellectual property framework3.2.1 Labeling and/or trademarks3.2.2 Moral rights3.2.3 Confidential information3.2.4 Performers’ rights3.2.5 Limitations and exceptions to existing legislation3.3 Proposals that utilize critical intellectual property discourse3.3.1 Public domain3.3.2 Creative Commons iv3.4 Proposals that target private law solutions3.4.1 Protocols3.4.2 Knowledge registries and databases3.4.3 Licenses and licensing3.5 Combined Approach – Toolkits3.6 Alternative regimes.3.6.1 Customary law3.6.2 Sui generis legislation3.6.3 Human rights, cultural rights, community rights?3.6.4 An international treaty?3.7 Other international treaties, conventions and instruments3.7.1 Access and benefit-sharing scheme.3.7.2 The Agreement on the Trade-Related Aspects of Intellectual Property (TRIPS).
 
IV. Conclusion: Future Direction 4.1 Future directions4.2 Indigenous peoples’ participation, collaboration and partnership.4.3 Next steps.

Answer:

1: Option A
Reasoning: TC is sum of fixed cost and variable cost. Hence, from the given function is it apparent that $300 is the fixed cost and $ 10 per unit is the variable cost. The variable cost is also the marginal cost since it is the incremental cost incurred in the production of every incremental unit since fixed cost remains the same.
2: Option B
Reasoning: From the given demand curve, it is possible to predict the price and the underlying quantity that the monopolist can sell at a given price. Hence, the revenue from different combinations of price and quantity can be predicted.
3: Option C
Reasoning: The profit maximisation occurs when MR=MC and hence output adjustment is required to attain the same.
4: Option C
Reasoning: The profit has been computed for all the levels where MR is greater MC and for 3 units, the profit maximisation occurs. Profit when Q =3 is 3*(8-5) = $ 9. This exceeds the profit for any other output level.
5: Option A
Reasoning: At this level, MR=MC which maximises the profit
6: Option B
Reasoning: The price corresponding to quantity F is B. Also, as discussed at F output, the profit is maximised.
7: Option B
Reasoning: The price applicable is B while the quantity is F. Hence, revenue is multiplication of price and quantity which would result in the chosen rectangle.
8: Option C
Reasoning: The socially optimal level occurs where the an additional unit bring in marginal benefit which tends to be equal to the marginal cost.
9: Option C
Reasoning: As per the definition of perfect price discrimination, it is able to charge every consumer the underlying reservation price thereby making the consumer surplus to be zero and maximising the producer surplus.
10: Option C
Reasoning: This would lead to differentiation on the part of service provider which is rampant in case of monopolistic competition.
11
a) It is known that the marginal cost is $ 10. Further, it is known that revenue is the product of price and quantity based on which the following table can be drawn.
                                           

It is apparent that as one moves from quantity 5 to quantity 6, the MR drops to zero and then becomes negative. At Q=5, MR>MC and hence this is the quantity that must be sold to every consumer when a single price is charged.
b) The corresponding price to 5 units as apparent from the table indicated above is $ 36 which must be the price charged.
 
c) Based on the table above, it is apparent that the total revenue when 5 units are sold would be $ 180. Also, with regards to the total cost incurred, it is known that fixed cost is zero and hence only marginal cost would be incurred @ $10 per book. Hence, total cost = 5*10 = $50
Thus, economic profit = Total Revenue – Total Costs = 180-50 = $ 130
d) It is apparent from the given information on reservation price that for all the eight students for whom information has been provided, the reservation price tends to exceed the marginal cost of $ 10. Hence, the socially optimal number of books ought to be 8.

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