Knowledge capital is nonrival in the sense that
A) firms do not compete to be the first to develop new technologies.
B) two people can use the same knowledge to develop and produce a product.
C) no single company can be excluded from the benefits of new technologies.
D) firms can benefit from the research and development of rival firms without paying for that benefit.
Question 2
Vinny consumes tacos and chicken wings. To keep his utility constant, he must consume more tacos if he consumes fewer chicken wings. This means that
A) Vinny's indifference curve for tacos and chicken wings must have a negative slope.
B) Vinny's marginal rate of substitution must be constant along his indifference curves for tacos and chicken wings.
C) Vinny's marginal utility from each good must be constant along his convex indifference curves for tacos and chicken wings.
D) the prices Vinny pays for tacos and chicken wings are always the same.
Romanesque capital showing Samson and the lion (13th century).
Natural Capital
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