Smartphone companies protect their monopolies over new products they develop by utilizing
A) patent protection.
B) low cost production.
C) diseconomies of scale.
D) zero economic profits in the long run.
Answer: A
You might also like to view...
The main reason that finished goods are scarce is that
A. raw material resources are scarce. B. factories are not operated efficiently. C. distribution systems are clogged. D. taxes are destroying work incentives. E. All of the responses are correct.
Economics is often described as a science of constrained choice. How do you justify this argument?
What will be an ideal response?
Which of the following is not correct?
A. Where marginal product is greater than average product, average product is rising. B. Where total product is at a maximum, average product is also at a maximum. C. Where marginal product is zero, total product is at a maximum. D. Marginal product becomes negative before average product becomes negative.
All of the following are surplus items on the balance of payments accounts EXCEPT
A) U.S. residents purchases of gold from foreign residents. B) foreign tourists spending funds in the United States. C) exports of merchandise. D) sales of U.S. dollars to foreign residents.