The following list of characteristics are true of the pharmaceutical industry, except one.
a. Low variable cost
b. Virtually guaranteed profits when the product is introduced
c. High fixed cost
d. Exclusive rights to market and sell patented products
e. Segmentable markets
b. Virtually guaranteed profits when the product is introduced
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An example of financial capital is
A) bonds. B) computers. C) the talents of a highly paid movie star. D) machines. E) buildings.
A duopoly is a form of oligopoly with two firms
a. True b. False Indicate whether the statement is true or false
The logic behind the tradeoff between inflation and unemployment is that high aggregate demand puts upward pressure on wages and prices while raising output.
Indicate whether the statement is true or false.
Because of the slope(s) of the ________, we can say that a decrease in the price level leads to a higher level of real GDP demanded
A) aggregate demand curve B) short-run aggregate supply curve C) long-run aggregate supply curve D) short-run and long-run aggregate supply curves