The marginal benefit to a firm from its R&D expenditures is depicted by its:
A. interest-rate cost-of-funds curve.
B. expected-rate-of-return curve.
C. venture capital acquisition curve.
D. retained earnings pay-out curve.
Answer: B
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Which of the following statements represents a key point about strategic decision making?
A) Strategy is less important in nonconstant sum games than in constant sum games. B) The payoffs in cooperative games will always be higher than in noncooperative games. C) It is essential to understand your opponent's point of view and to deduce his or her likely responses to your actions. D) Optimal strategies in cooperative games always lead to economically efficient outcomes.
When there is an Equilibrium (or a Nash Equilibrium), we expect that:
a. once the firms get there, no one will change their strategy. b. firms will tend to select a randomized strategy. c. neither firm will care what it does. d. this is always a dominated strategy.
Economic rent is earnings in excess of what?
a. opportunity cost b. total costs c. taxes d. hidden costs
A tax system that applies a lower marginal tax rate at higher levels of income is
A) progressive. B) regressive. C) proportional. D) backward.