Sam Edison Obtains a Patent on His New Invention: Trinoculars

question 201

Multiple Choice

Sam Edison obtains a patent on his new invention: trinoculars.In the long run,

• A)he can earn only a normal profit
• B)he may suffer an economic loss and stop producing
• C)his monopoly power guarantees him a positive economic profit
• D)he will achieve productive efficiency
• E)he will achieve allocative efficiency

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Definitions:

Figure-Ground Relationship

The principle by which we organize the perceptual field into stimuli that stand out (figure) and those that are left over (ground).

Binocular Cue

Visual information taken in by two eyes that enable a person to perceive depth and 3D characteristics of objects.

Convergence

A binocular cue to depth and distance in which the muscle movements in an individual’s two eyes provide information about how deep and/or far away something is.

Binding

The process of securely attaching two or more items together.