In the wireless communication industry, firms that provide broadband access to the Internet are best regarded as
A) platforms in a shared-input market.
B) end users in a shared-input market.
C) platforms in a matchmaking market.
D) end users in a matchmaking market.
A
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When a primary dealer sells a government bond to the Federal Reserve, reserves in the banking system ________ and the monetary base ________, everything else held constant
A) increase; increases B) increase; decreases C) decrease; increases D) decrease; decreases
Public choice theory applies ____ principles to politics
a. altruistic b. ceteris paribus c. economic d. the fallacy of composition
A soil bank program usually accompanies a price ceiling program in agriculture
Indicate whether the statement is true or false
Richard raises Rhode Island Red chickens. Consumers, when buying chicken in the supermarket, view all other types of chickens as perfect substitutes for the Rhode Island Red. There are no barriers to entry in the chicken industry and, as a result, there are many, many chicken producers. An economist knows that
a. if Richard raises his price, he differentiates his chickens from the others on the market b. the demand curve Richard faces is horizontal c. if Richard lowers his price, he differentiates his chickens from the others on the market d. Richard can increase brand loyalty and market share by advertising e. Richard's relevant market is not chicken