Legal entitlement to scientific discoveries, inventions, innovations and intellectual property
A) reduces the incentive to invest in research and development.
B) results in an equal distribution of income and profits.
C) encourages technological advancements.
D) protects production on the basis of tradition, social customs and habits.
C) encourages technological advancements.
Economics
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Amy can produce either 5000 pounds of cheese or 20 cars per year. Mike can produce either 5000 pounds of cheese or 10 cars per year. Mike's opportunity cost of producing one car is ________ pound(s) of cheese.
A. 1/250 B. 500 C. 1/20 D. 250
Economics
If the elasticity of demand for sugar cookies is 2.5, then a 10% change in price will lead to a 5% change in quantity demanded.
Answer the following statement true (T) or false (F)
Economics