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Author Question: Why does the government allow some markets to be monopolized by granting patents? a. to promote a ... (Read 97 times)

theo

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on: Jun 30, 2018
Why does the government allow some markets to be monopolized by granting patents?
 a. to promote a more equal distribution of income
 b. to correct for negative externalities
 c. to promote technological progress
 d. to ensure lower prices for consumers in the short run

Question 2

_____ gives the slope of an isocost line where labor (L) and capital (K) are the two inputs measured on the X and Y axes respectively.
 a. The ratio of the marginal product of capital to the marginal product of labor, with a negative sign,
  b. The ratio of price of labor to the price of capital, with a negative sign,
  c. The ratio of the price of capital to the price of labor
  d. The ratio of the marginal product of labor to the marginal product of capital


Silverbeard98

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

B


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