A United States government patent lasts
A) forever.
B) 50 years.
C) 20 years.
D) 7 years.
Answer: C
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Production efficiency requires that
A) the economy be producing on the PPF but the marginal cost of a good does not need to equal its marginal benefit. B) the economy be producing on the PPF and that the marginal cost of a good equals its marginal benefit. C) the marginal cost of a good equals its marginal benefit but the economy does not need to be producing on its PPF. D) the society be producing at the point of allocative efficiency. E) opportunity costs be minimized.
Should a person who is risk averse hold a portfolio with no stock and only bonds? Explain
In 2009, C was closest to, but under
A. $4 trillion B. $6 trillion C. $80 billion D. over $10 trillion
Figure 7.2 shows a monopolist's demand curve. Suppose that the marginal cost is $6 for all units and the current output level is 4 units. Then what would you recommend to the firm?
A. Lower the price to sell more units. B. Raise the price and sell fewer units. C. Maintain the current price and output level. D. There is not sufficient information.