Recall the Application about the price competition between satellite and cable TV services to answer the following question(s).Recall the Application. The introduction of satellite TV service is a form of:
A. price gouging.
B. profiteering.
C. market entry.
D. All of these.
Answer: C
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Assume that an employer discovers that the marginal revenue product of the last two workers that he has hired is less than the wage rate that he is paying them
He is operating in a purely competitive market in both the output that he sells and the labor that he hires. What would you advise this employer to do and why?
According to Schumpeter, why don't competitive firms innovate?
Jennifer Borts moves her office from the premises she rents at a local mall to her home. As a result of this move
A) Jennifer's explicit costs fall and her implicit costs rise. B) Jennifer's total costs fall. C) Jennifer's implicit costs fall. D) Jennifer's opportunity costs fall.