Independent, non-monopoly firms have an incentive advantage over monopolies in new-product innovation
Indicate whether the statement is true or false
F All firms will have similar gains from the discovery of a new product. (There is no commitment, as there may be for new processes.)
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The equilibrium increase in marginal costs for firms resulting from the imposition of a price floor will be larger the more inelastic the price elasticity of demand is.
Answer the following statement true (T) or false (F)
Shifts in the IS curve ________ the AD curve, and changes to the reaction function ________ the AD curve
A) cause a movement along; shift B) shift; cause a movement along C) temporarily shift; permanently shift D) permanently shift; temporarily shift
Which of the following is not an example of human capital investment?
A. A leadership training course B. A bachelor's degree C. Software with spell-check included D. All of these are examples of human capital investment.
Answer the following statements true (T) or false (F)
1. Double coincidence of wants is associated with a barter economy. 2. The more volatile the inflation rate, the weaker the money supply as a standard of deferred payment. 3. The multiple expansion of the money supply is made possible because money withdrawn from one bank finds its way into other banks. 4. A decrease in the level of required reserves will decrease a bank’s ability to extend loans. 5. If banks had $10 million in legal reserves, $105 million in check able deposits, and a 10 percent reserve requirement, they would have to reduce their check able deposits or increase their reserves.