The isoquant mapping for perfect complements in production is
A. a straight line.
B. concave.
C. L-shaped.
D. a ray passing through the origin.
Answer: C
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Foreign aid:
A. provided by developed countries to developing countries represents about 10 percent of the GDP of developed countries. B. is an important source of funding for investment in most developing countries. C. does not contribute much to domestic investment in most developing countries. D. is largely wasted in most developing countries because it comes with no strings attached.
When a small amount of output is produced per unit of the input, the input is said to exhibit
A. derived productivity. B. high productivity. C. low productivity. D. marginal productivity.
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. The government decides to impose a tax on pollution emissions to cut total emissions in this industry in half, and based on this decision it has set the tax at $100 per ton of emissions. Following the implementation of this tax, the total amount of emissions reduction in this industry will be
________ tons. A. 25 B. 50 C. 75 D. 100
A patent
A) always gives rise to a monopoly. B) may not provide a barrier to entry. C) allows the patent owner to capture all of the consumer surplus. D) increases total welfare.