Which choice below is an argument that more technological change occurs in more competitive market structures?
A. Most large, oligopolistic firms such as AT&T have done a great deal of research.
B. The "high-tech revolution" grew out of many tiny start-up operations.
C. Small firms are too "lean and mean" to support any research and development.
D. Oligopolistic firms earn the profits to pay for research; competitive firms do not.
Answer: B
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If the Fed purchases $50,000 in T-bills from a bank, by how much will the bank's excess reserves increase?
A) by $50,000 B) by $50,000 times the required reserve ratio C) by $50,000 divided by the required reserve ratio D) Not enough information has been provided to answer the question.
At the beginning of the twenty-first century,
(a) many people returned to living in the Northeast and Midwest. (b) the majority of U.S. citizens lived in rural areas. (c) the majority of people resided in the South and West. (d) all of the above
Stewart is a lobsterman. His traps are
a. private goods and the lobster he catches are common resources. b. private goods and the lobster he catches are public goods. c. rival in consumption and the lobster he catches are not rival in consumption. d. not rival in consumption and the lobster he catches are not rival in consumption.
A firm estimates its long-run production function to beQ = -0.0075K3L3 + 12K2L2Suppose the firm employs 12 units of capital. The product curve(s) in the short-run are
A. MP = -38.88 L2 + 3,456L. B. AP = -12.96 L3 + 1,728L2. C. TP = -12.96 L3 + 1,728L2. D. both a and b E. both a and c