Exercise 1 (50 points)
This exercise is about intellectual property (IP) and its protection. Your task is to describe the IP regulations in Saudi Arabia. Imagine that you need to describe these regulations to someone who knows nothing about the law in the kingdom; more precisely, that someone could be a foreign investor whom you introduce to Saudi Arabia. Your analysis should be both broad and deep.
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Exercise 2 (50 points)
This exercise is about international trade. Your task is to conduct an economic analysis (i.e., focus on price, quantity, and social welfare) of the government opening some market to international competitors. As a tool, you need to use the supply-demand analysis. Assume that the market is perfectly competitive.
First, the market is closed to the foreign companies; only domestic producers and consumers operate on that market. Second, the market becomes open for international suppliers. Assume that the market is attractive enough (i.e., international suppliers do enter the market). Your first task is to figure out the
consequences (in terms of demand and supply curves) of that entrance. Second, you need to analyze the consequence in terms of how equilibrium price and quantity change as well as what happens to social welfare (consumer and producer surpluses). To simplify the analysis, assume that the government does
not charge foreign entrants with any special fees that the local companies pay. In other words, international suppliers are treated in the same as domestic suppliers.
A complete answer includes both graphical analysis and its description.
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