Which of the following always raises the equilibrium price?
A) an increase in both demand and supply
B) a decrease in both demand and supply
C) an increase in demand combined with a decrease in supply
D) a decrease in demand combined with an increase in supply
C
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If the simplified technology costs $2 million to develop, what is the expected gain from developing the voice activated software
a. $5million b. $6million c. $7million d. $10million
Which barrier to entry results in the creation of a natural monopoly?
a. Legal barriers like government franchises. b. Economies of scale. c. Ownership of a vital resource. d. Patents and copyrights.
Table 4-1
Use this table for the following questions.
A_________________is a situation where suppliers offer different amounts of products for sale at all possible prices in a market.
Fill in the blank(s) with the appropriate word(s).