What are the two characteristics that are essential to economic analysis of invention?
a. fixed-costs and public goods
b. fixed-costs and private goods
c. variable-costs and public goods
d. variable-costs and private goods
a
Economics
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Greenaqua Corp . was given the exclusive right to produce and sell its newly introduced water purifier for 20 years. The right granted to Greenaqua is an example of a:
A) patent. B) blueprint. C) copyright. D) trademark.
Economics
Economists have estimated that the cross-price elasticity of demand between beer and spirits is -0.50, the income elasticity for spirits is 1.21 and the income elasticity for wine is 5.03
These elasticities mean that beer and spirits are ________, and spirits and wine are ________. A) complements; substitutes B) substitutes; luxuries C) complements; luxuries D) normal goods; luxuries
Economics