Researchers Produce the Efficient Quantity of Research and Development If

question 57

Multiple Choice

Researchers produce the efficient quantity of research and development if they receive a voucher equal to the marginal ________ benefit,or a subsidy equal to the marginal ________ benefit. Patents and copyrights ________ result in an efficient amount of research and development.

• A)social;social;cannot
• B)social;social;can
• C)external;external;cannot
• D)external;external;can
• E)external;social;can

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Definitions:

The Grange

A fraternal organization in the United States that encourages families to band together to promote the economic and political well-being of the community and agriculture.

Populist Party

A political party or movement that claims to represent the common people, often against the elite or establishment, with platforms usually focusing on issues affecting the average citizen.

Horatio Alger

A 19th-century American writer known for his novels depicting young boys' ascension from poverty to middle-class respectability through hard work and virtue.

Good Connections

Beneficial relationships or networks that an individual or organization has, which can be leveraged for personal or professional advantage.