Prior to the advent of MCI (later named Worldcom) the telecommunications industry largely relied on one kind of technology – the copper wire
Why do you suppose that the use of microwave technology employed by MCI offered an important challenge to the principle of natural monopoly that existed at the time justifying the reliance on one company – AT&T.
It meant that competing firms could effectively compete without having to replicate the infrastructure (that is fixed costs) of the sole existing firm – AT&T and be able to compete for customers at a lower cost.
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The short-run aggregate supply curve is upward sloping because
A) a lower price level creates a wealth effect. B) lower taxes motivate people to work more. C) money wage rates do not immediately change when the price level changes. D) most business firms operate with long-term contracts for output but not labor.
Savers in the financial system make decisions about how to save their money by following the basic principles of:
A. cost benefit analysis. B. asset valuation. C. risk valuation. D. rate of return on investments.
Capitalism is an economic system in which there is public ownership of the means of production and resource allocation is determined through markets
a. True b. False Indicate whether the statement is true or false
The federal government's role as the provider of national defense is justified by considerations of
A. Private goods. B. Public goods. C. Inequity. D. None of the choices are correct.