Of the following examples, expenditures on ______ will most likely increase dramatically when the GDP rises.
a. HDTVs
b. pants
c. cough drops
d. milk
a. HDTVs
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Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.25 per minute. How many minutes will high-demand consumers purchase?
A. 75 B. 175 C. 200 D. 100
The demand for factor is driven by the demand for goods and services produced by that factor of production. This phenomenon is referred to as
A) elastic demand. B) joint demand. C) inverse demand. D) derived demand.
When the cross elasticity of demand is _________, the goods or services are _________.
A. zero; substitutes B. negative; substitutes C. positive; complements D. positive; substitutes
The Microsoft Corporation was sued by the government for all but which one of the following antitrust violations?
A. Stealing competitors' secrets. B. Discouraging computer manufacturers from installing any operating system other than Microsoft's. C. Buying out potential competitors. D. Bundling software.