Most innovation comes from universities and governments, which are inherently market driven
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The above figure shows the U.S. market for replacement cell phone batteries. With free trade, the United States imports ________ batteries and once the tariff illustrated in the figure is imposed, the United States imports ________ batteries
A) 900,000; 700,000 B) 800,000; 400,000 C) 300,000; 100,000 D) 700,000; 300,000 E) 900,000; 100,000
Based on the graphic for perfect competition versus monopoly, the consumer surplus for perfect competition is ______ the welfare for perfect competition.
a. greater than
b. less than
c. equal to
d. the opposite of
Rolando realizes that whenever he studies for at least two hours immediately before a physics exam, he gets an A on the exam, but when he does not study immediately before an exam, he gets no higher than a C on the exam. He concludes that the time spent studying immediately before the exams is responsible for his improved grades. Rolando is
A. probably misguided in that there is no apparent correlation or causation in this situation. B. very probably correct in his conclusion that the time spent studying immediately before his exams is a reason for his improved grades. C. likely correct that there is causation, but the causation is more likely running in the opposite direction in that the improved exam grades forced him to study immediately before each test. D. definitely confusing correlation with causation.
Refer to the table below. If the market price for the firm's product is $80, the firm will:
The following table shows cost data for a firm that is selling in a purely competitive market.
A. Produce 4 units
B. Produce 5 units
C. Produce 6 units
D. Shut down