If Firms in an Industry Are Generating Knowledge That Other

question 2

Multiple Choice

If firms in an industry are generating knowledge that other firms can use without paying for it, this industry is characterized by

• A) social costs that exceed private costs.
• B) social benefits that exceed private benefits.
• C) social costs that exceed social benefits.
• D) private benefits that exceed social benefits.
• E) social benefits that undermine private benefits.

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Definitions:

Status of Blacks

Refers to the social, economic, and political standings and rights of Black people, historically and in contemporary society.

Subservient

Describes someone who is excessively willing to obey others; subordinate in capacity or role.