Even if better programs become available, Microsoft's Windows software may retain market dominance because of
a. network externalities.
b. its user-friendliness.
c. switching costs.
d. both a & c.
D
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If bond prices and interest rates are plotted on a graph, the curve has a positive slope.
Answer the following statement true (T) or false (F)
Remembering that demand elasticity is defined as the percentage change in quantity divided by the percentage change in price, if price decreases and, in percentage terms, quantity rises more than price has dropped, total revenue will
A) increase. B) decrease. C) remain the same. D) either increase or decrease.
A ____________ is a gamble in which the expected value of the gamble is equal to 0.
Fill in the blank(s) with the appropriate word(s).
If the consumer price index were 233.8 last year, 261.3 today, a level of _____ next year would represent disinflation.
A. 261.3 B. 661.3 C. 283.1 D. 260.0