Microsoft found that instead of producing a dvd player and a gaming system separately, it is cheaper to incorporate dvd playing capabilities in their new version of the gaming system. Microsoft is taking advantage of
a. Economies of Scale
b. Learning curve
c. Economies of Scope
d. Decreasing marginal costs
c
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A 10 percent increase in price leads to a 20 percent decrease in the quantity demanded. The price elasticity of demand is equal to
A) 0.5. B) 1.0. C) 2.0. D) 20.0. E) 10.0.
What is a liquidity trap? What are the implications of a liquidity trap on monetary policy?
What will be an ideal response?
A quasi-public good differs from a public good in that unlike a public good, it is possible to keep those who do not pay for the quasi-public good from enjoying the benefits of the good
Indicate whether the statement is true or false
Accounting that relates how growth in inputs of production are related to growth in output is called:
A. input to output accounting. B. national income accounting. C. production accounting. D. growth accounting.