Which of the following is NOT a reason social returns might be greater than private returns?
A) Excess competition between firms
B) Knowledge spillovers
C) Spillovers from research and development
D) Capital market imperfections
A
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Is $1,000 received today worth as much as $1,000 received one year from now? Explain your answer
What will be an ideal response?
Goods X and Y are complementary goods. A decrease in price of good X has occurred. In the market for good Y, this will lead to
A) an increase in price and a decrease in quantity. B) an increase in price and an increase in quantity. C) a decrease in price and a decrease in quantity. D) a decrease in price and an increase in quantity.
Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 deposit, then Odyssey National can increase the money supply by:
a. $900. b. $910. c. $1,000. d. $9,000. e. $10,000.
Total utility is determined by:
a. multiplying the quantity purchased of a good by the price of the good. b. finding the additional utility gained from consuming one more unit of a product. c. summing the marginal utilities for each successive units of a product consumed. d. summing the number of units of a good consumed. e. dividing the marginal utility derived from consuming a good by its price.