The Economic Justification for Public Subsidies to University Research Is

question 179

Multiple Choice

The economic justification for public subsidies to university research is based on

• A)the value of this research to the university.
• B)the higher salaries graduate students earn as a result of working with professors involved in research.
• C)the external benefits of research and development to, in particular, high rates of economic growth.
• D)higher incomes earned by those who provide services to university researchers (equipment, supplies, etc.).

Understand the factors contributing to diseconomies of scale within large management structures.

Explain the conditions under which firms experience economies of scale.

Understand the shift in cost curves due to government taxes on producers.

Understand how marginal cost interacts with average total cost, average fixed cost, and average variable cost.

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Definitions:

Idle Time

The period during which resources, such as machinery or labor, are not being used productively in the manufacturing process.

Cycle Time

Duration required to complete one cycle of an operation or process, often measured to identify efficiency improvements.

Battery-Powered

Devices or vehicles that operate using electricity stored in batteries as their primary source of energy.

Task Time

The duration required to complete a specific task, often used in scheduling and productivity analysis.