Firms often use patent rights as a:
A) barrier to exit.
B) barrier to entry.
C) way to achieve perfect competition.
D) none of the above
B
You might also like to view...
Which of the following countries ran a trade surplus in 2013, yet its current account balance is $2.8 billion.
a. India b. China c. The Democratic Republic of Congo d. Taiwan
A market equilibrium:
A. is socially optimal. B. is never socially optimal. C. leaves unexploited opportunities for individuals. D. might not maximize total economic surplus.
“Due to lower grain prices, consumers can expect retail prices of choice beef to begin dropping slightly this spring with pork becoming cheaper after midsummer,” the Agriculture Department predicted. “This reflects increasing supply,” the
department said. Does the statement use the term “supply” correctly? What effects might this announcement have on consumer demand? Please provide the best answer for the statement.
In the aggregate expenditures model, technological progress will shift the investment schedule:
A. downward and increase aggregate expenditures. B. downward and decrease aggregate expenditures. C. upward and increase aggregate expenditures. D. upward and decrease aggregate expenditures.