A justification for patents is that without patents consumer surplus would be
A) larger than with the patent.
B) zero since the product would not be invented.
C) only slightly smaller than with the patent.
D) zero since the monopoly would be a revenue maximizer.
B
Economics
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An increase in the supply of bank loans ________ the supply of loanable funds so the real interest rate ________ and investment ________
A) increases; rises; increases B) decreases; falls; increases C) increases; falls; increases D) increases; falls; decreases E) decreases; rises; increases
Economics
When bank tellers converse with each other, keeping customers waiting in line, they are
A) unemployed. B) out of the labor force. C) working in the best interest of the agent. D) working in the best interest of the principals.
Economics