When did intellectual property rights become part of trade agreements?
What will be an ideal response?
Uruguay Round
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At the minimum efficient scale
A) all possible economies of scale have not been exhausted. B) marginal cost is at its minimum. C) the firm has achieved the lowest possible average cost of production. D) any increases in the scale of operation will encounter further economies of scale.
The above figure shows the reaction functions for two pizza shops in a small isolated town. The perfect competitive outcome is that
A) each firm produces 40 pizzas. B) each firm produces 50 pizzas. C) the firms split the production of 200 pizzas. D) each firm produces 200 pizzas.
An increase in revenue causes economic profit to rise
Indicate whether the statement is true or false
In reality, the simple spending multiplier [1/(MPS+MPI)] is applicable only to countries whose imports are a substantial fraction of income in foreign countries
a. True b. False Indicate whether the statement is true or false