Apple founder Steve Jobs received patents on many of his ideas. While the patents existed, his ideas were
a. public goods and proprietary knowledge.
b. public goods but not proprietary knowledge.
c. private goods and proprietary knowledge.
d. private goods but not proprietary knowledge.
c
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When a price ceiling below the equilibrium price is imposed on a good, production of the good
A) increases. B) decreases. C) does not change. D) is frozen at the pre-ceiling level. E) either increases or decreases depending on whether the supply of the good increases or decreases when the price ceiling is imposed.
A fall in the user cost of capital
A) could occur as a result of a higher depreciation rate. B) would lead to more capital-intensive methods of production. C) would lead to less capital-intensive methods of production. D) could occur as a result of a decrease in the marginal product of capital.
If a firm is to capture all consumer surplus with two-part pricing when customers are different
A) it must be able to charge different access fees. B) it cannot charge different prices for access fees. C) it must set unit price below marginal cost. D) it must set unit price above marginal cost.
Which of the following groups of people are counted as employed?
a. People who work at least one hour a week. b. People who work at least 15 hours a week as unpaid employees of a family business. c. People who are out of work due to bad weather. d. All of these are counted as employed.