What is the name of the agreement related to intellectual property rights?
What will be an ideal response?
TRIPS, or Trade Related Intellectual Property Rights agreement
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Explain what would happen to the equilibrium price and quantity of pineapples if the supply of pineapples decreased while the demand for pineapples increased
What will be an ideal response?
Because there are low barriers to entry in a monopolistically competitive market
A) there are many firms in the industry. B) they produce a homogeneous product. C) the firms are price takers. D) there is no non-price competition.
A study that deals with the salaries of university professors would be considered:
A. economic naturalism B. real economics C. microeconomics D. macroeconomics
A firm estimates its long-run production function to beQ = -0.0075K3L3 + 12K2L2Suppose the firm employs 12 units of capital. At ________ units of labor, marginal product of labor begins to diminish.
A. 32.21 B. 44.44 C. 76.66 D. 82.27 E. 66.67