The Federal court case against Microsoft, filed in 1998, was based on the:
A. Clayton Act
B. Sherman Act
C. Equal Employment Opportunities Act
D. Federal Trade Commission Act
B. Sherman Act
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If a 1 percent increase in the price of X increases the quantity demanded of Y by 2 percent, then X and Y are
A) complements and the cross elasticity of demand equals 2. B) substitutes and the cross elasticity of demand equals 1/2. C) substitutes and the cross elasticity of demand equals 2. D) complements and the income elasticity of demand equals 2. E) normal goods and the income elasticity of demand of each equals 2.
The construction of the economy's marginal social benefit curve for a public good reflects the fact that
A) all the individuals can consume the same unit of the good. B) more than one supplier can provide the good. C) the same unit of the good cannot be simultaneously shared by more than one person at a time. D) the government can supply a public good at a lower cost than can a private supplier.
An advantage of Microsoft Windows is its compatibility with the widest range of hardware and software
The dominance of Windows is self-reinforcing: hardware and software manufacturers ensure that their products are compatible with Windows in order to have access to the large number of Windows users. Which principle best describes this scenario? A) network externalities B) economies of scale C) endorsement effects D) endowment effects
Suppose a country experiences a change in weather patterns that makes farming more difficult. Which curve(s) in the aggregate demand and aggregate supply model would be affected, and which way would it (they) shift?