Microsoft has a special version of its Windows operating system that it sells at a low price in countries where cheap pirated software is widespread. The cost of producing another copy of this software is the same as the cost of producing another copy of the regular Windows product. Selling this "special edition" software at a low price in certain countries is very similar to what economists call:
A. welfare loss.
B. a price taker.
C. natural monopoly.
D. price discrimination.
Answer: D
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The United States economy has experienced a decrease in competition over the last three decades
a. True b. False
A direct exchange of fish for corn is an example of:
A. storing value. B. a modern exchange method. C. barter. D. a non-coincidence of wants.
The Congressional Budget Office estimates the size of the tax multiplier to be ________ for a 1-year tax cut for higher-income people
A) 0.1 - 0.6 B) 0.3 - 1.5 C) 0.5 - 2.5 D) 2.0 - 3.0
Refer to the information provided in Figure 20.2 below to answer the question(s) that follow.
Figure 20.2Refer to Figure 20.2. England has an absolute advantage in producing
A. trucks. B. cars. C. neither cars nor trucks. D. both cars and trucks.