Governments grant patents to encourage
A) research and development on new products.
B) competition.
C) low prices.
D) firms to form public enterprises.
Answer: A
Economics
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The creation of a monopoly results in gains to
A) producers at no expense to consumers. B) consumers at no expense to producers. C) producers at the expense of consumers. D) consumers at the expense of producers.
Economics
Based on the information above, video games have
a. A unitary elastic demand b. An inelastic demand c. An elastic demand d. A perfectly elastic demand
Economics