A Tax on Insulin Is Likely to Cause a Very

question 76

True/False

A tax on insulin is likely to cause a very large deadweight loss to society.

---

Definitions:

Trade Secret

Any practice, formula, process, design, instrument, pattern, or compilation of information not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

Patent

A legal document granting an inventor exclusive rights to produce, sell, and use an invention for a certain period of time.

Collective Marks

Trademarks or service marks used by members of a cooperative, association, or other collective group to indicate membership.

Trade Secrets

Information that is not known to the public, confers some sort of economic benefit on its holder, and is the subject of efforts to maintain its secrecy.