Some economists argue that Microsoft become a monopoly in the market for computer software by developing MS-DOS, an operating system used for the first IBM personal computers

The more people who used MS-DOS-based programs, the greater the usefulness of a using a computer with an MS-DOS operating system. The explanation for Microsoft's monopoly is
A) the development of new technology that other firms could not copy.
B) network externalities.
C) patents Microsoft obtained when it developed the MS-DOS operating system.
D) control of a key resource which, in this case, is the MS-DOS operating system.


B

Economics

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Economics

Taco Bell's economists determine that the price elasticity of demand for their tacos is 2.0. So, if Taco Bell raises the price of its tacos by 6.0 percent, the quantity demanded will decrease by ________ percent

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Economics

A budget deficit ________

A) may have stimulative effects on economic activity in the short run B) contributes to lower interest rates in the long run C) is likely to increase future productive capacity in the long run D) all of the above E) none of the above

Economics

A firm that is maximizing its profits will keep renting machines up to the point where:

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Economics