Which of the Following Is True About Imitation

question 24

Multiple Choice

Which of the following is true about imitation?

• A)It involves the sharing of ideas with competitors.
• B)It involves the creation of new products.
• C)It involves the development of new ideas.
• D)It involves the application of existing ideas.

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Definitions:

Production Possibilities

Various combinations of the amounts of different goods that can be produced within a given economy, given technological constraints and available resources.

Isocost Line

A graph line representing all combinations of a firm's inputs that cost the same total amount.

Expenditures

The financial outflows or payments made by an individual, organization, or government unit, usually for goods or services.

Average Product

The output per unit of input, calculated by dividing total output by the quantity of inputs used.