Microsoft's success over Apple although Apple had a technologically superior product is the result of:
a. increasing returns in a network-based business
b. Microsoft's economies of scale over a wide range of output
c. the revenue sources derived from Microsoft's intellectual property
d. superior marketing and promotions
e. all of the above
a
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The marginal rate of technical substitution is equal to the
A) slope of the total product curve. B) change in output minus the change in labor. C) change in output divided by the change in labor. D) ratio of the marginal products of the inputs.
When the price level falls the quantity of
a. consumption goods demanded rises, while the quantity of net exports demanded falls. b. consumption goods demanded and the quantity of net exports demanded both rise. c. consumption goods demanded and the quantity of net exports demanded both fall. d. consumption goods demanded falls, while the quantity of net exports demand rises.
A newspaper story recently reported that the price of new cars has decreased and the quantity of new cars sold has dropped. The new price and quantity could have been caused by:
What will be an ideal response?
A massive selling of domestic currency assets by domestic and foreign financial investors is called:
A. a speculative attack. B. a currency revaluation. C. protectionism. D. a currency devaluation.