Exhibit 18-5 
-In Exhibit 18-5, the world price of a baseball is $3. With free trade, how many baseballs will the United States import?
Definitions:
Patent
A government-granted exclusive right to an inventor, allowing them to exclude others from making, using, or selling their invention for a certain period.
Exclusive Right
A legal privilege granted to an individual or entity to be the sole party allowed to engage in a certain activity or use a particular property.
Long-Life Battery
A long-life battery is a type of battery designed to last significantly longer than conventional batteries, often used in applications where regular battery replacement is impractical or costly.
Trademark
A symbol, word, or words legally registered or established by use as representing a company or product.
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