The winner-take-all aspect of patent awards elicits a socially optimal research effort
Indicate whether the statement is true or false
F The race to win may bring haste and wasteful effort. But the race is also difficult to avoid.
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Use the following table to answer the question below.Price per UnitQuantity Demanded per YearQuantity Supplied per Year$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In this competitive market, the price and quantity will settle at
A. $25 and 1,200 units. B. $10 and 1,800 units. C. $20 and 900 units. D. $15 and 1,600 units.
Real income measures the
A) slope of the budget line. B) purchasing power of a given income. C) slope of the preference map. D) area under the indifference curve.
Which of the following is taxed under the current corporate income tax structure?
a. dividends b. interest payments c. fringe benefits d. worker salaries
The _____ tend to have a smaller public sector relative to the total economy
a. socialist economies b. centrally planned economies c. autocratic economies d. market economies e. mercantilist economies