Which of the following barriers to entry is is most likely to result in the creation of of new products and production processes?
A) Patents.
B) Licenses.
C) Ownership of an essential raw material.
D) Significant economies of scale.
A
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A consequence of an incentive contract for employees is that
a. employees must incur additional risk b. employee level risk is reduced c. employer level risk is reduced d. there are no risk related consequences
Suppose that the CPI in 2009 is 220 and that the inflation rate is 5% in 2010 . What is the CPI in 2010?
A physician's office expenses increase by 10 percent, so the doctor decides to raise the price of office visits. Assuming the demand curve for office visits does not shift, what will happen to the total number of office visits and practice revenues?
a. Office visits and total revenue rise if demand is inelastic. b. Office visits and total revenue stay the same if demand is elastic. c. Office visits will fall and total revenue will rise if demand is inelastic. d. Office visits will rise and total revenue will fall if demand is elastic. e. Office visits and total revenue fall if demand is inelastic.
The following graph shows the production possibilities curve for the economy with only two members, Silvia and Art. Silvia can produce either 50 pounds of beef or 2 computers per week, and Art can produce 100 pounds of beef or 1 computer per week. Both of them work 40 weeks per year.
With the open trade economy, Silvia and Art can consume any combination of beef and computers from the line
A. XY. B. PQ. C. PY. D. XYZ.