(Consider This) The central idea illustrated by the vignette on "catgut" used as violin strings is:
A. patent rights.
B. research and development activity.
C. derived demand.
D. trade secrets.
Answer: D
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If a country wants to keep the domestic currency overvalued against a foreign currency:
A) it will buy both the foreign and domestic currency. B) it will sell both the foreign and domestic currency. C) it will buy the domestic currency and sell the foreign currency. D) it will buy the foreign currency and sell the domestic currency.
The formula used for calculating the total profit of a monopolistic competitor is ________
A) (Price - Average Total Cost) × Quantity B) Price - Marginal Cost C) (Price- Average Total Cost) / Quantity D) (Price -Average variable cost)
An understanding of the principles of public sector economics can help us create _____
a. innovative public policies b. a more effective government c. a protective government that better shields its citizens from risk d. new spending programs
Enforcement of antitrust laws is the responsibility of
a. only the Department of Justice b. only the Federal Trade Commission c. only the Antitrust Division d. both the Justice Department and the Federal Trade Commission e. the President