Entrepreneurs can delegate every one of the following tasks to labor except
a. hiring and training new employees
b. assuming business risk and uncertainty
c. supervision of the production process
d. researching ideas for new products
e. marketing the goods and services produced
B
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If the economy moves upward along its short-run Phillips curve, in the AS-AD diagram, this movement is shown by a
A) rightward shift of the AS curve and a movement along the AD curve. B) movement downward along the AS curve as a result of a leftward shift of the AD curve. C) movement upward along the AS curve as a result of a rightward shift of the AD curve. D) leftward shift of the AS curve and a movement along the AD curve. E) rightward shift of potential GDP.
Refer to the table below. If the attorney reviews 51 patents, what is the expected cost of infringement?
The above table shows the quantity of patents reviewed by a firm's attorney and the corresponding probability that the firm will infringe on another firm's patent. The cost of infringement is $50,000.
A) $50,000
B) $40,000
C) -$4,000
D) $4,000
If antitrust legislation is successful, then the monopolistic firm will
A) decrease output and charge a lower price than before. B) increase output and charge a higher price than before. C) increase output and charge a lower price than before. D) decrease output and charge a higher price than before.
Which of the following is true?
A. Most of the export and import trade of the United States is with less developed nations B. The United States is fully dependent on other nations for metals and chemicals C. Exports plus imports as a percentage of GDP is more than 50% for the United States D. The United States is almost entirely dependent on imports for bananas and coffee