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Author Question: An exclusive right to sell a new and useful product, process, substance, or design for a fixed ... (Read 15 times)

sdfghj

  • Hero Member
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  • Posts: 552
on: Jul 1, 2018
An exclusive right to sell a new and useful product, process, substance, or design for a fixed period of time is called a
 
  A) patent.
  B) barrier to entry.
  C) monopoly.
  D) research disincentive.

Question 2

In deciding whether to operate in the short run, the firm must be concerned with the relationship between price of the output and
 
  A) total cost.
  B) average variable cost.
  C) total fixed cost.
  D) the number of buyers.
Microeconomics ¦ Perloff ¦ 8th Edition
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whitcassie

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


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