Give an example of an industry that would seek intellectual property rights protection because its product incorporates innovation and research
What will be an ideal response?
Pharmaceuticals, computer hardware, telecommunications equipment, other high technology products
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Refer to Figure 3.4. This is an example of
A) an assurance game. B) a pure coordination game. C) a battle of the sexes game. D) a chicken game.
Using the general concept of elasticity, would you expect the elasticity of demand for advertising to be positive or negative? Explain.
What will be an ideal response?
Use the figure below to answer the following question. 
At equilibrium, economic surplus is represented by the area
A. b + c. B. b. C. a. D. a + b.
Investment demand is downward sloping because
A) an increase in investment demand causes interest rates to fall. B) at lower interest rates, firms will undertake more investment. C) at lower interest rates, firms will undertake less investment. D) None of the above.