Semi-salt industries began its operation in 1975 and remains the only firm in the world that produces and sells commercial-grade polyglutamate. while virtually anyone with a degree in college chemistry could replicate the firm’s formula, due to the relatively high cost, semi-salt has decided not to apply for a patent. despite the absence of patent protection, semi-salt has averaged accounting profits of 5.5 percent on investment since it began producing polyglutamate—a rate comparable to the average rate of interest that large banks paid on deposits over this period.
1. do you think semi-salt is earning monopoly profits? why?

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.