In a two-sided market with network effects, the platform will most likely
A. set the same prices for the two sides of the market.
B. combine the two groups of the market before setting its price.
C. set different prices for the two sides of the market.
D. set a price of zero for both sides of the market.
Answer: C
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One topic of study for a microeconomist would be the
A) causes of inflation. B) causes of a nation's unemployment level. C) effects of a gasoline price increase on consumer behavior. D) effects of an increase in government spending on overall economic activity.
Which of the following is NOT an example of a monopolistically competitive firm?
A. Farmer Jones's wheat farm B. the Post Cereal Company C. Procter and Gamble, a large consumer products corporation D. T.J.'s Clothes, a local retail clothing store
Suppose that the government of Smallville spends $2 trillion in 2020 and receives tax revenues of $1.5 trillion in that same year. Which of the following is TRUE?
A. Smallville has a budget deficit of $0.5 trillion. B. Smallville has a trade deficit of $0.5 trillion. C. Smallville has a budget surplus of $0.5 trillion. D. Smallville has a trade surplus of $0.5 trillion.
The World Bank is
A. the official name of the International Monetary Fund. B. composed of five separate institutions. C. the central bank of the United Nations. D. composed of large private banks among developed nations.