Microsoft requires people who purchase its operating system to also purchase its web browser. This is an example of:
A. a tie-in sale.
B. competitive pricing.
C. price discrimination.
D. predatory pricing.
Answer: A
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Data collected on the same observation unit at a number of points in time are called:
A) cross-section data. B) time series data. C) panel data. D) none of the above.
Which of the following are necessary components of a normative statement?
a. objective; testable b. subjective; contestable c. objective; contestable d. subjective; testable
Franchising mitigates:
A. the hold-up problem. B. the principal-agent problem. C. opportunism. D. relationship-specific investment.
Refer to the information provided in Figure 15.1 below to answer the question(s) that follow. Below are cost curves for Dom's Barber Shop, a monopolistically competitive firm. 
Figure 15.1 Refer to Figure 15.1. In this industry in the long run,
A. firms will start to incur economic losses. B. product supply will decrease so prices will go up. C. firms will enter until all firms break even economically. D. product demand will increase so that profits are increased.