A knowledge spillover is:
a. a negative externality.
b. a positive externality.
c. a constant externality.
d. an externality.
Ans: b. a positive externality.
Economics
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In the figure above, if the market price is $12, then the total consumer surplus is
A) $12. B) $10. C) minimized. D) $240. E) $480.
Economics
The table below shows the quantity produced and the price set by a monopoly firm. Based on the table, the marginal revenue of the 28thunit of output is
A. $14.50 B. -$13.50 C. -$16.50 D. $16.50 E. $13.50
Economics