Which of the following is an example of general knowledge, as opposed to specific knowledge that can be patented?
a. the invention of a longer-lasting battery
b. a mathematical theorem
c. a method for constructing a high-performance microchip
d. the chemical formula for an adhesive
b
You might also like to view...
Cost-benefit analysis requires:
A) choosing the alternative with the least net benefit. B) all costs and benefits to be measured in the same unit. C) evaluating the budget constraint before making a choice. D) that the risks associated with different alternatives are ignored.
Because the short-run average total cost curve slopes downward for an information product, the firm experiences
A) a downward sloping marginal cost curve. B) a downward sloping average variable cost curve. C) short-run economies of operation. D) long-run diseconomies of scale.
Suppose the Clean Air Act calls for a rise in NO2 abatement (A) from 50 to 60 percent and that the MSC (in millions) is MSC = 12 + 0.8A, where A is measured in percent. Then, the incremental cost of this policy change is
a. $8 million c. $560 million b. $40 million d. $500 million
In a market economy, the _______ determines who gets the goods and services produced.
a) Magical hand b) Government c) Market mechanism d) Stock market