Short run expenditure patterns may change very little when income declines

Indicate whether the statement is true or false

T

Economics

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Patents are currently granted for a period of 20 years in the United States. Do you think that time period is too long or too short? Explain your reasoning

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"A market is said to be perfectly competitive when consumers can tell that some products are of better quality than others." Do you agree or disagree? Why?

What will be an ideal response?

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