There are often wide differences between the productivity levels of different factories making the same products because
A. some companies are more willing to take the risk of adopting a new technology.
B. patent protections limit the benefits of innovation to the firm responsible for the innovation.
C. the intensity of competition varies from industry to industry.
D. some factories are located in innovation clusters and others are not.
Answer: A
You might also like to view...
Suppose the probability of an employee being caught shirking, q, is a function of the employer's monitoring, M, such that q = M/100
If workers must put up a $1,000 bond and the gain to each worker from shirking is $100, what is the employer's optimal level of monitoring that is just sufficient to discourage shirking?
A mixed economy is one in which
a. a mixture of businesses exist and function. b. there is a mixture of public influence over government. c. government plays a dominant role, and private markets are secondary. d. there is some public influence over free markets.
An aggregate supply curve that slopes upward must be:
A. a short-run curve. B. a long-run curve. C. an individual firm's supply curve. D. an individual industry's supply curve.
On the job training:
a. is an important component for building human capital b. may be just as important as formal education in raising productivity c. is less amenable to influence by the government d. All of the above are correct.