Because knowledge capital is nonexcludable and nonrival, firms have an incentive to ________ the research and development of other firms
A) free ride on B) ignore C) not use D) make bids on
A
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Explain the difference between Microeconomics and Macroeconomics
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Differences in tastes among nations
a. make gains from trade possible even in the absence of differences in resource endowments b. make gains from trade possible only when there are differences in resource endowments c. negate any potential gains from trade d. are caused by differences in resource endowments e. occur only among countries whose people are of different religions
According to the theory of international trade, it makes sense for a company to disperse its production to those countries where
What will be an ideal response?
What does it mean for a firm to be a price taker in the labor market?
What will be an ideal response?