Patent and copyright laws encourage
a. creative activity.
b. research and development.
c. competition among firms.
d. Both a and b are correct.
d
You might also like to view...
If Bianca earns 5 percent on her wealth and that income amounts to $40,000, what is Bianca's wealth?
What will be an ideal response?
In the monetarist model, an increase in both government spending and taxes would
a. lead to a large increase in interest rates. b. increase income dollar for dollar with the increase in government spending. c. have a much smaller impact on income than in the Keynesian model. d. all of the above.
Sam needs to have his car serviced. There is an auto repair shop located nearby that does a lot of business and has an online rating of 4 out of 5 stars. Sam takes his car to be serviced and thinks the service person is grumpy and that his car is still not running as well as it could be. Sam then makes a point of telling his friends not to use the repair shop. Sam's actions illustrate which of
the following systematic mistakes that people make when making decisions? a. People are overconfident. b. People give too much weight to a small number of vivid observations. c. People are reluctant to change their minds. d. All of the above are correct.
A monopoly has two production plants with cost functions C1 = 50 + 0.1Q12 and C2 = 30 + 0.05Q22. The demand it faces is Q = 500 ? 10P. What is the profit-maximizing price?
A. $18.75 per unit B. $31.25 per unit C. $6.25 per unit D. $12.5 per unit