From the date a U.S. patent is granted to a firm, it ceases to be a potential source of monopoly profits after

A. 7 years.
B. 20 years.
C. 14 years.
D. 1 year.

Answer: B

Economics

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Suppose Acme County Bank and Trust has $1 million in total deposits and the required reserve ratio is 10%. How many dollars is Acme allowed to use to seek profits?

A) 0 B) $100,000 C) $900,000 D) $1 million E) $10 million

Economics