The patent and copyright systems
a. reduce the cost of duplicating intellectual property
b. help make the market for intellectual property more competitive
c. are forms of intellectual property
d. help increase the incentives to create new intellectual property
e. help reduce the incentives to create new intellectual property
D
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Refer to the scenario above. The average payoff of the bet is:
A) $50. B) $100. C) -$50. D) -$100.
Because a monopoly's demand curve is the same as the market demand curve for its product
A) the monopoly is a price taker. B) the monopoly's average total cost always falls as it increases its output. C) the monopoly's marginal revenue equals its price. D) the monopoly must lower its price to sell more of its product.
What is the difference between the voting paradox and the Arrow impossibility theorem?
What will be an ideal response?
Accommodating fiscal policy refers to
a. using monetary policy to prevent recessions. b. using fiscal policy to prevent recessions. c. using monetary policy to offset the negative effects of fiscal policy. d. using fiscal policy to help politicians in office.