What is one reason it might be difficult to dissuade people from pirating music off the Internet?
A) Consumer surplus is very high when music is pirated.
B) In general, consumers get a rush from "stealing."
C) Consumers mistakenly believe that the Internet is public domain.
D) Producer surplus is very low when music is pirated.
A
You might also like to view...
In the above figure, the axis break in the x-axis
A) reflects the fact that for the years covered in the figure, the unemployment rate was never less than 3 percent. B) shows that there is no relationship between inflation and unemployment. C) misleadingly shows that inflation has changed very little even though the unemployment rate has increased a great deal. D) implies that for the years covered in the figure, the inflation rate was always greater than 1 percent.
In October 2008, Congress passed the Troubled Asset Relief Program (TARP), under which the Treasury provided ________ to banks in exchange for ________
A) financial advice; promises to expand mortgage lending B) funds; stock C) bonds; cash D) lines of credit; loan guarantees
The law of one price (LOOP) indicates that:
a. The nominal wage rate in one country should be equal to the exchange-rate-adjusted wage of the average laborer in another country. b. The price of a good in one country should be equal to the exchange-rate-adjusted price of the same product in another country. c. The quantity produced of a good in one country should be equal to the exchange-rate-adjusted quantity produced of the same product in another country. d. None of the above. e. Nominal interest rates in countries should be identical because if they were not, arbitragers could make risk-free profits.
In the Microsoft case, the company was accused of violating that law the prohibits
A. firms from attempting to undercut competitors' prices. B. firms from successfully achieving monopoly status. C. firms from using their monopoly in one market to increase market share in another. D. charging prices that are unfairly too high.