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University Researchers Create a Positive Externality Because What They Discover

question 162

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University researchers create a positive externality because what they discover in their research labs can easily be learned by others who haven't contributed to the research costs. If there are no subsidies, what is the relationship between the equilibrium quantity of university research and the optimal quantity of university research produced?


Definitions:

Work Setting

The physical and social environment in which professional duties are carried out, including the office, remote locations, or any work-related site.

Affective Component

The emotional aspect of an attitude, reflecting feelings or emotions linked to an object, person, or situation.

Attitude

A predisposition to act in a certain way.

Cognitive Component

The aspect of attitude that pertains to beliefs, thoughts, and knowledge about the object of one's attitude.

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