Economists agree that large firms with big research budgets create most of the economy's technological progress
Indicate whether the statement is true or false
F
You might also like to view...
The opportunity cost of a movement from point N to J would
A. be the lost production of some capital goods.
B. be the lost production of some consumer goods.
C. be slower economic growth in the future.
D. not involve any sacrifice of either capital or consumer goods.
Nike has used Michael Jordan to create the impression that Air Jordan basketball shoes are superior to any other basketball shoe. Nike is attempting to:
A. differentiate Air Jordan basketball shoes from other types of basketball shoe. B. lower the marginal cost of producing Air Jordan basketball shoes. C. sell fewer Air Jordan basketball shoes so they can raise the price. D. convince consumers that Air Jordan basketball shoes are identical to other basketball shoes.
Suppose 10 citizens each derive marginal benefit from traffic lights according to the function MB = 10 - Q. If traffic lights cost $10 each to produce, what is the efficient quantity of traffic lights?
A) 9 traffic lights B) 12 traffic lights C) 8 traffic lights D) 1 traffic light
Price controls on gasoline
A. create a surplus of gasoline. B. increase consumer surplus. C. create a shortage of gasoline. D. increase producer surplus for all producers.