1. Why is it unlikely that copyright protection would usually lead to significan

1. Why is it unlikely that copyright protection would usually lead to significant market power?2. Explain why a monopolist who leases does not engage in planned obsolescence.3. Explain why Intel might have an incentive to rapidly introduce new versions of its microprocessors.4. Suppose that a license (medallion) is required for a taxicab. The city has issued a fixed number of licenses and refuses to issue any more. The number issued is such that taxicab drivers are price takers but (excluding the cost of the license) they earn economic profits of $100000 a year. The city does not charge for a license. What is the opportunity cost of the license? Is there a barrier to entry as defined in this chapter? Is there a barrier to the entry of productive resources into the provision of taxicab services?