Patents
A) will create a profit incentive to do research.
B) might be welfare reducing if granted for too long a period.
C) serve as a barrier to entry.
D) All of the above.
D
Economics
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Refer to Figure 2-8. If Vidalia chooses to produce 80 dozen roses, how many orchids can it produce to maximize production?
A) 24 dozen orchids B) 48 dozen orchids C) 60 dozen orchids D) 74 dozen orchids
Economics
Oil companies lobbying the government for gasoline price supports are engaging in rent-seeking behavior.
Answer the following statement true (T) or false (F)
Economics