(Last Word) In 2000, Microsoft was fined $2.7 billion for
Ans: Using anticompetitive means to promote its Internet Explorer web browser.
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Refer to Table 5.1. Hector should specialize in the production of
A) bracelets. B) tiaras. C) both products. D) neither product.
If input prices for perfectly competitive firms increase as the output of its industry expands: a. their short run average cost curves will shift up as the industry expands
b. after a permanent increase in demand, the long run equilibrium price will be higher than the original price. c. after a permanent increase in demand, the short run equilibrium price will be higher than the eventual long run equilibrium price. d. all of the above will be true.
When the interest rate is higher, the difference between the value of money today and tomorrow is smaller
a. True b. False Indicate whether the statement is true or false
Historical table 5.1 (which we used earlier in the semester)
What will be an ideal response?