Encouraging firms to invest in research and development and individuals to engage in creative endeavors such as writing novels is one justification for
a. resource monopolies.
b. natural monopolies.
c. government-created monopolies.
d. breaking up monopolies into smaller firms.
c
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Which of the following is NOT a method by which unions try to increase the demand for the labor of their members?
A) increasing the marginal product of union members B) increasing the supply of the goods produced by union labor C) supporting minimum wage laws D) supporting immigration restrictions
An increase in the deadweight loss (DWL) means
A) an additional reduction in welfare by one group that is not offset by a gain to another group. B) an additional reduction in welfare by one group that is offset by a gain to another group. C) an additional increase in welfare by one group that is not offset by a gain to another group. D) an additional increase in welfare by one group that is offset by a gain to another group.