A large majority of the personal computers (PCs) in the United States use an operating system purchased from Microsoft. Microsoft's relationship with PC manufacturers is an example of which of Porter's competitive forces?
A) the bargaining power of suppliers B) the threat from new entrants
C) the bargaining power of buyers D) competition from substitute goods or services
A
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If supply decreases and demand increases
A) the market clearing price definitely rises, and the equilibrium quantity falls. B) the market clearing price definitely rises, and the equilibrium quantity is indeterminate. C) the market clearing price definitely falls, and the effect on the equilibrium quantity is indeterminate. D) the effect on the market clearing price is indeterminate, and the equilibrium quantity definitely falls.
National defense services provided by the military are:
A. included in GDP at cost. B. excluded from GDP because they are not sold in markets. C. excluded from GDP because they are intermediate goods. D. included in GDP at market prices.
The first antitrust law in the United States was the
A) Glass-Steagall Act. B) Robinson-Patman Act. C) Clayton Act. D) Sherman Act.
Before deregulation of the telephone industry,
A. Cutthroat competition eliminated profits. B. Telephone service prices were lower than after deregulation. C. There were greater variety and quality of service than after deregulation. D. The volume of long distance phone use was lower than after deregulation.