In a long-run equilibrium in a monopolistically competitive industry that produces information products, revenues are equal to the ________ costs of developing, producing, and selling the product.
A. variable
B. fixed
C. total
D. marginal
Answer: C
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Indicate whether the statement is true or false
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a. True b. False Indicate whether the statement is true or false
If the U.S. imposed an import quota on corn, then in the U.S
a. exports and imports would rise. b. exports and imports would fall. c. exports would rise and imports would fall. d. exports would fall and imports would rise.
The Chinese, like the Japanese before them, have insisted on licensing agreements and large-scale transfer of technology as the price to agreeing to accept imports. But the Chinese have taken this process one step further by ______________________________________.
Fill in the blank(s) with the appropriate word(s).