In economics, technology only refers to the development of new products
Indicate whether the statement is true or false
FALSE
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The parent company would want to reward managers based on division revenues because
a. It decreases the incentives for the managers to make good decisions for their division b. It increases the incentives for the managers to make good decisions for their divisions c. It does not change the motivations for the managers d. None of the above
The economic justification for public subsidies to university research is based on
a. the value of this research to the university. b. the higher salaries graduate students earn as a result of working with professors involved in research. c. the external benefits of research and development to, in particular, high rates of economic growth. d. higher incomes earned by those who provide services to university researchers (equipment, supplies, etc.).
The most common data for testing economic theories come from
a. carefully controlled and conducted laboratory experiments. b. computer models of economies. c. historical episodes of economic change. d. centrally planned economies.
Which statement is TRUE? Fixed costs
A) do NOT exist in the long run. B) depend on the firm's level of output. C) are zero if the firm is producing nothing. D) are the difference between total costs and average variable costs.