Which of the Following Is Not a Reason Why Government

question 102

Multiple Choice

Which of the following is not a reason why government agencies subsidize basic research?

• A)The private market devotes too few resources to basic research.
• B)The general knowledge developed through basic research can be used without charge.
• C)The social benefit of additional knowledge is perceived to be greater than the cost of the subsidies.
• D)The government wants to attract the brightest researchers away from private research firms.

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Definitions:

Utility Function

A mathematical expression depicting an individual's preference ranking for different bundles of goods or services.

Units of Quiche

The quantifiable amount of quiche, either in pieces or volume, considered in various contexts such as cooking or consumption.

Pure Exchange Economy

An economic model where individuals trade existing goods without the production of new goods, focusing on the redistribution of resources.

Utility Function

Represents a consumer's preferences by assigning a utility value to each possible choice, indicating the level of satisfaction or happiness derived from those choices.