New scientific knowledge mainly comes from university and government laboratories, not private firms, because:
A. large corporations do not have funds available to channel toward basic research.
B. government pays scientists higher salaries than do private firms.
C. entrepreneurs find it difficult to secure venture capital to finance innovation.
D. basic scientific principles, as such, cannot be patented and do not always have commercial
Answer: D
You might also like to view...
Suppose that when the price of wheat is $2 per bushel, farmers can sell 10 million bushels. When the price of wheat is $3 per bushel, farmers can sell 8 million bushels. Which of the following statements is true? The demand for wheat is
a. income inelastic, so an increase in the price of wheat will increase the total revenue of wheat farmers. b. income elastic, so an increase in the price of wheat will increase the total revenue of wheat farmers. c. price inelastic, so an increase in the price of wheat will increase the total revenue of wheat farmers. d. price elastic, so an increase in the price of wheat will increase the total revenue of wheat farmers.
Suppose an industry has total sales of $25 million per year. The two largest firms have sales of $6 million each, the third largest firm has sales of $2 million, and the fourth largest firm has sales of $1 million. The four-firm concentration ratio for
this industry is A) 36 percent. B) 60 percent. C) 50 percent. D) 25 percent.