If the government wishes to encourage firms to internalize externalities, they should tax activities resulting in ________ externalities and subsidize activities resulting in ________ externalities.

The implementation of new technology can be quick throughout the world if

(a) patent rights are leased and purchased. (b) unions are strong. (c) economies are closed to foreign competition. (d) tariffs are placed on those imported goods and services benefiting from the technological advancements in the rest of the world.

The short run is depicted by a vertical supply curve

Indicate whether the statement is true or false