The price of a tablet increased from $250 to $400 while the price of a tablet app increased from $1 to $2. The relative price of tablets in terms of tablet apps
A. increased from 175 to 350.
B. increased from 0.003 to 0.05.
C. decreased from 250 to 200.
D. decreased from 0.35 to 0.2.
Answer: C
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In an oligopoly market, the Herfindahl-Hirschman Index is usually
A) greater than 2,500. B) below 1,000. C) between 100 and 1,000. D) between 200 and 2,000.
The segmenting of customers into several small groups such as household, institutional, commercial, and industrial users, and establishing a different rate schedule for each group is known as:
a. first-degree price discrimination b. market penetration c. third-degree price discrimination d. second-degree price discrimination e. none of the above
Net domestic product is the total value of
A) all final goods and services produced within a country's borders in a year. B) only intermediate goods produced within a country's borders in a year. C) all final goods and services produced within a country's borders in a year minus gross private domestic investment. D) only intermediate goods produced within a country's borders in a year plus gross private domestic investment. E) all final goods and services produced within a country's borders in a year minus capital consumption allowance.
Explain the difference between gross domestic product and gross national product
What will be an ideal response?