Entities that buy up patents then try to extract large payments from companies that use similar technologies are known as ________
A) Solow pirates
B) tertiary leeches
C) Great Googly Mooglies
D) patent trolls
D
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Studies of PPP covering many years will be more likely to yield evidence of PPP than studies based on short-run data
Indicate whether the statement is true or false
Firms in an oligopoly market tend to be ____ and have ____ barriers to entry.
a. large (relative to the total market); high.
b. large (relative to the total market); low.
c. small (relative to the total market); high.
d. small (relative to the total market); low
Supporters of supply-side economics would be most likely to argue ________ government intervention to reduce inequality by focusing on its effects on ________.
A. in favor of; economic growth B. in favor of; politics C. against; fairness D. against; economic growth
Letters are used to represent the terms used to answer this question: price (P), quantity of output (Q), total cost (TC) and average total cost (ATC). Which of the following equations is equal to a firm's average profit?
A) P - ATC B) (P - ATC) × Q C) (P × Q) - TC D) P - TC