Which term refers to the profits that a firm receives from investing in a new technology?
a. Private benefits
b. Social benefits
c. Private externalities
d. Positive externalities
a. Private benefits
Private benefits are the profits that a firm receives from investing in a new technology.
You might also like to view...
Which of the following statements is true?
A. Competitive firms will respond less to changes in output prices over the long run than they will over the short run because short-run marginal cost is lower than long-run marginal cost. B. Competitive firms will respond more to changes in output prices over the long run than they will over the short run because long-run marginal cost is lower than short-run marginal cost. C. Competitive firms will respond less to changes in output prices over the long run than they will over the short run because long-run marginal cost is lower than short-run marginal cost. D. Competitive firms will respond more to changes in output prices over the long run than they will over the short run because short-run marginal cost is lower than long-run marginal cost.
Perfectly competitive markets are responsive to the demand of consumers.
Answer the following statement true (T) or false (F)
The Fed is a division of the Department of the Treasury.
Answer the following statement true (T) or false (F)
Answer the following statements true (T) or false (F)
1. A state government seeking to increase its excise-tax revenues is more likely to increase the tax rate on items with elastic demand. 2. The demand for cocaine among addicts is relatively elastic. 3. The law of supply indicates that the price-elasticity of supply coefficient would have a negative sign. 4. The price elasticity of supply determines how much price as a result of a change in demand. 5. Over a longer time period after a price-change, the price elasticity of supply tends to decrease.