Question: 14. Why are Patents important? 15. What is difference between Market correction and Bear Market? 16. Whats are Explicit Costs? Implicit Costs? 21. What is

14. Why are Patents important?

15. What is difference between Market correction and Bear Market? 16. What’s are Explicit Costs? Implicit Costs?

21. What is the most important thing to consider for the change in Gold Prices?

22. How has the USA become the biggest producer in Oil production?

23. Using any product or service, give me one example of what would SHIFT the Demand Curve either way? Give me one example of what would SHIFT the Supply Curve either way?

24. Price Elasticity of Demand measures a buyer’s responsiveness to price changes. In the following example: when a Watermelon Price changes from $7 to $5, the Quantity demanded goes from 35 Watermelons to 50 Watermelon. Using the Formula for Price Elasticity of Demand, E = (% change in Quantity) / (% change in Price) a. What is the Elasticity calculation of Watermelons? b. Are watermelons Elastic or Inelastic?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

14 Patents are important for several reasons Encourage innovation By granting inventors temporary exclusive rights to their creations patents incentivize research and development leading to new techno... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

You have the chance to invest your money in either a 7.5% bond that sells at face value or an aggressive growth stock that pays only 1% dividend. If inflation occurs, the interest rate will go up to...

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Hello can you please help with this case study, that's an exercice given by the teacher in order for us to get ready for the mid-term, he said he is going to give something like that, so we should...

Please answer these questions Question 1 Economists assume the principal motivation of producers is: Psychological gratification. Social status. Profit. Their preference for being "their own person."...

Please read the question Question : What are "spaced practice", "varied practice", and "interleaved practice"? Give a definition for each. Then give an example of each from your own experience as a...

Hi, Please help me with responding to the discussion questions below because I'm having a hard time answering them myself. I have been up all night, and I'm unable to figure them out. I uploaded a...

Please help with the discussion below: ** Each of the 3 questions below only need to beabout two-threepara graphs but packed full of information, no fluff. **Attached below are a few readings from...

Discussion Board 4 Production Economics and Decisions...

HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...

XYZ Ltd. is a manufacturing company that produces and sells a single product. The company's total fixed costs are $200,000 per year, and the variable cost per unit is $20. The selling price per unit...

For each of the following oversights, indicate whether total assets will be understated, overstated, or not affected. a. Failing to record income earned but not yet received b . Failing to record...

The research from the 1970s found that a leader's personal attractiveness is the most important factor in managerial success. Group of answer choices True False

An Australian a company (Pty Ltd) has the following expenses. Advertising $8,000, Purchases of trading stock $90,000 Stock on hand at the beginning of the year was $11,000; at the end of year...

In I49 (selected in the first photo) calculate the labour cost for that labour type and quantity using the values in the Cost Overview sheet (second photo). (Ensure you apply weekend rates for...

External equity is a way of determining job worth. External equity relates to: a. pay variations among various industries. b. pay variations within a company. c. pay variations among dissimilar...

Based on your reading of Commentary on Earnings Management by Schipper (1989) answer the following question: 1. Explain when and why the users of financial statements are not able to detect earnings...

In a parallel circuit, the voltage drop across a resistor is doubled if the resistance of the resistor is doubled? a. True b. False

You're a location scout for a new coffee shop franchise. While both customer volume and demographics are important, what factor should be MOST heavily weighted when choosing a location for the new...

Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19-year-old nanny $125 per week for 48 weeks during the current year. a. What is the employer's portion...

Matthew borrows $250,000 to invest in bonds. During 2012, his interest on the loan is $30,000. Matthew's interest income from the bonds is $10,000. This is Matthew's only investment income. a....

Diane is a single taxpayer who qualifies for the earned income credit. Diane has two qualifying children who are 3 and 5 years old. During 2012, Diane's wages are $17,100 and she receives dividend...

How do long-term, medium-term, and short-term capacity decisions differ?

What is meant by the term capacity' chunks"? What are the reactive and proactive strategies for timing capacity increases? Should essential services such as utilities use the reactive or proactive...

What is a bottleneck operation? Name two places/operations in an airport that are usually bottlenecks.