Basic research is non-excludable and non-rival. However, the government of Hamsterville has noticed that innovators are preferring to go to the beach instead of the lab because it takes time to develop new processes and products, but the innovators do not get any benefit out of it. As a result, the government has created a patent system that gives inventors the right to be the sole producer of anything invented for 15 years. When the government created the patent system, what kind of good did basic research effectively become?

a. Public good
b. Private good
c. Collective good
d. Common good
e. A good with positive externalities

What is a sort of auction for stocks in which traders verbally submit their offers?

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)