A firm's optimal amount of R&D occurs where the marginal benefit of this activity exceeds marginal cost by the greatest amount.
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Q13: Invention and innovation are not the same;
Q14: The marginal cost to a firm of
Q15: Process innovation is represented as a downward
Q16: Diffusion is the first successful commercial introduction
Q17: Inventions and innovations can both be patented.
Q19: According to the inverted-U theory of R&D,
Q20: The interest-rate cost-of-funds curve is perfectly elastic
Q21: When corporations use retained earnings to finance
Q22: If a particular R&D expenditure is expected
Q23: One of the advantages of being first
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