In June 2007 Monsanto acquired Delta & Pine Land Company, a company that had patented a seed technology nicknamed Terminator. This technology produces plants that have sterile seeds so they do not flower or grow fruit after the initial planting
Even though Monsanto has not used this technology commercially why might this be controversial if it decided to do so? What would be the purpose of the company employing such a technology?
This might be controversial because it would basically make farmers dependent upon Monsanto in acquiring more seed. The purpose of such a technology should it be employed would be to strengthen a company's monopoly power and stabilize demand.
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To maximize profit, a firm in monopolistic competition will produce the quantity where marginal revenue
A) is greater than marginal cost. B) equals zero. C) is less than marginal cost. D) equals marginal cost. E) equals average total cost.
In the above figure, suppose the economy is initially at point a. If the nominal interest rate increases, there is a movement to point such as
A) b. B) c. C) d. D) e.
A decrease in cyclical unemployment will
A) shift the short-run Phillips curve to the left. B) shift the long-run Phillips curve to the left. C) decrease the natural rate of unemployment. D) All of the above are correct. E) None of the above is correct.
Why is a period of stagflation part of the normal aftermath of a period of excessive aggregate demand?