A venture capital fund wants to invest $1000 in each of one thousand mad scientists
The first scientist applying to the fund is working on the legendary pill that turns water into gasoline, and the second scientist is working on the even more legendary perpetual motion machine. The smart venture capitalist here will A) back the pill and look for 999 other scientists working on the same pill.
B) back the machine and look for 999 other scientists working on the same machine.
C) look for 500 scientists working on the pill and 500 working on the machine.
D) back the pill, the machine, and 998 other different projects.
D
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Which supports the economist's claim that buyers don't compete against sellers?
A) Diners would rather have more restaurants to choose among. B) Music buyers prefer having access to internet music stores compared to only the local music shop in town. C) Car buyers prefer several dealerships in the region compared to only one. D) Homebuyers prefer a larger selection of homes to a smaller one. E) All of the above.
Which of the following is NOT a legal barrier to entry?
A) public franchise B) government license C) patent D) innovation
If a Cournot duopolist announced that it will double its output
A) it becomes the leader. B) the other firm does not view the announcement as credible. C) the other firm will shut down. D) the other firm will double output also.
Senator Franklin told Senator Jefferson he would support her new bridge project if she would support his retirement funding bill. This is an example of ______.
a. rent seeking b. vertical equity c. logrolling d. gerrymandering