In 2001, Microsoft was found guilty of:
A. using anticompetitive means to maintain and broaden its "Windows" monopoly.
B. monopolizing the market for word processing software.
C. conspiring with Netscape and Sun to monopolize the market for Internet browsers.
D. deliberately pricing Windows 95 and 98 below marginal cost to monopolize the market for
operating systems for personal computers.
Answer: A
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The above figure shows the production possibility frontier for an economy. The point or points that are attainable and production efficient are
A) points B and C. B) points A, B, and C. C) point E. D) points A, B, C, and D. E) points A and D.
________ are asymmetric information problems that act as a barrier to efficient allocation of capital
A) Asset prices B) Credit imbalances C) Financial frictions D) Financial derivatives
Discuss the relation between average variable cost (AVC) and marginal cost (MC) curves
Which statement best describes social surplus?
a. the sum of consumer surplus and producer surplus b. the amount that a seller is paid for a good minus the seller’s actual cost c. the amount that individuals would have been willing to pay, minus the amount that they actually paid d. when it is impossible to improve the situation of one party without imposing a cost on another