University Researchers Create a Positive Externality Because What They Discover

question 162

Multiple Choice

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?

• A)They are equal.
• B)The equilibrium quantity is greater than the socially optimal quantity.
• C)The equilibrium quantity is less than the socially optimal quantity.
• D)There is not enough information to answer the question.

Distinguish between liquidated damages and penalty clauses and their enforceability.

Grasp the principles surrounding the doctrine of quantum meruit and its application in contract law.

Recognize the significance of conditions and warranties in contracts and their impact on contractual obligations.

Understand the legal basis for injunctions in preventing contractual breaches.

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Definitions:

Toulouse

A city in southwestern France known for its rich history and significant role in the aerospace industry.

Paragraph Length

The measure of a paragraph in terms of number of sentences or words, affecting readability and structure in written text.

Paragraph Unity

The coherence and consistency of ideas within a paragraph, ensuring that all sentences support the main topic.

Two Subjects

Relates to discussing or addressing two distinct topics within a single context or framework.