A new cure for Toenail fungus is discovered for individuals resistant to the original treatment. At this point the firm producing this drug
a. Could be considered a monopoly
b. Would be protected from entry by patents
c. Would be facing many new entries in the market
d. Only A&B
d
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A tax is progressive if the ratio of taxes to income rises as income rises.
Answer the following statement true (T) or false (F)
Which of the following will NOT cause a leftward shift in the Long-Run Aggregate Supply curve?
A) a reduction in the amount of capital B) a reduction in government spending C) a reduction in the amount of oil D) a net outflow of human capital
Draw a graph to illustrate the effect of higher gasoline prices on the demand for large SUVs. What is the relationship between gasoline and SUVs?
What will be an ideal response?
About ________ of pharmaceutical patents are issued to U.S. firms
A) 10 percent B) one-half C) two-thirds D) 90 percent