An In the News article titled "Jury Awards $26 Million For Suppressed Technology" reported, that a county superior court jury in Oakland ordered Universal to pay $25.7 million to two California entrepreneurs. The most correct implication of this is that Universal
A. Makes zero economic profits.
B. Charges lower prices than might be expected in a competitive market.
C. Is a highly efficient, high-tech industry.
D. Attempted to suppress R&D.
Answer: D
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Legal restrictions on entry into an industry
a. are strongly opposed by those already in an industry. b. are promoted through lobbying efforts by those already in the industry, thereby further increasing the social costs of monopoly. c. are promoted by those who wish to enter the industry, thereby potentially increasing the social welfare generated by the industry. d. are always instituted to protect the public's health and welfare.
The spread between the interest rates on Baa corporate bonds and U.S. government bonds is very large during the Great Depression years 1930-1933. Explain this difference using the bond supply and demand analysis
What will be an ideal response?
The rising phase of a business cycle measured by an increase in real GDP is called:
A) trough. B) expansion. C) recession. D) contraction.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom is on budget constraint AC and the price of a hot dog is $2.50. Tom's monthly income is
A. $16. B. $50. C. $80. D. $100.