A _____ gives an investor the exclusive legal right make, use, or sell an invention for a limited time
a. patent
b. trademark
c. copyright
d. trade secret
a
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A firm in perfect competition is a price taker because
A) there are no good substitutes for its good. B) many other firms produce identical products. C) it is very large. D) its demand curves are downward sloping. E) its demand curve is vertical at the profit-maximizing quantity.
In case of a linear negatively sloped demand curve, the price elasticity of demand:
A) is zero between any two points on the curve. B) is the same between any two points on the curve. C) is different at different points on the curve. D) is equal to the slope between different points on the demand curve.
If the owner of a local movie theater wanted to increase the theater's total revenue from movie admissions, what should the owner do with ticket prices?
What will be an ideal response?
Throughout U.S. history, which of the following sources provided the bulk of funds for railroad construction?
a. the federal government b. state governments c. local governments d. private investors