Patents have become less important than such factors as secrecy, lead time, and increased sales and service efforts as a means to maintain a competitive advantage in the pharmaceutical industry

A diagram of a productivity curve has

A) real GDP per hour of labor on the y-axis and hours of labor on the x-axis. B) capital per hour of labor on the y-axis and real GDP per hour of labor on the x-axis. C) real wages per hour on the y-axis and real GDP per hour of labor on the x-axis. D) real GDP per hour of labor on the y-axis and real wages per hour on the x-axis. E) real GDP per hour of labor on the y-axis and capital per hour of labor on the x-axis.

When a tax is imposed on sellers, producer surplus decreases but consumer surplus increases

a. True b. False Indicate whether the statement is true or false