Refer to the table below. If the attorney reviews 53 patents, what is the expected cost of infringement?
The above table shows the quantity of patents reviewed by a firm's attorney and the corresponding probability that the firm will infringe on another firm's patent. The cost of infringement is $50,000.
A) $2,000
B) $35,000
C) $50,000
D) -$35,000
Answer is B) $35,000
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An appreciation of the U.S. dollar occurs when
A) the international price of the dollar falls. B) the international price of the dollar rises. C) the supply of dollars in international markets increases. D) the U.S. demand for foreign currencies increases.
The benefits from free trade are not evenly distributed throughout an economy t/f
a. true b. false
If a 10 percent increase in the price of one good A results in an increase of 5 percent in the quantity demanded of another good B, then it can be concluded that the two goods A and B are:
A. Complementary goods B. Substitute goods C. Independent goods D. Normal goods
A main factor determining gasoline demand between 2002 and 2008 was
A. a significant decrease in miles driven by the typical American. B. Americans' increased use of less fuel efficient vehicles. C. Americans' increased use of more fuel-efficient vehicles. D. shrinking demand in both India and China.