After the 1940s,only the Government and Giant Multinational Corporations Could

question 128

Multiple Choice

After the 1940s,only the government and giant multinational corporations could sponsor most technological innovation because:

• A)only they could afford to sustain the research efforts
• B)only they had the patents to develop sophisticated technology
• C)only they had the public support to create technology
• D)only they had the interest in creating new products and technology
• E)all of these choices

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Definitions:

Marginal Benefit

The enhanced benefit or happiness one achieves by using an extra unit of any good or service.

Purely Competitive

A market structure characterized by many small firms producing identical products, free entry and exit, and no single firm influencing the market price.

Supply Curve

The supply curve is a graphical representation showing how the quantity of a good that a supplier is willing and able to sell varies depending on the price.