Multiple Choice
Which of the following is (are) true when one firm's research and production can increase another firm's access to technological advances?
A) It is called a technology spillover.
B) Other firms will imitate and improve on the new knowledge.
C) If there is no subsidy, the market equilibrium output level is less than the efficient equilibrium output level.
D) All of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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