Most app developers have adopted the business model of
A) charging a small fee for their apps to be downloaded.
B) allowing their apps to be downloaded and used for free, while trying to still earn money from users.
C) charging a between $1.99 and $2.99 for their apps to be downloaded.
D) allowing their apps to be downloaded to one device for free, but charging a high price for the apps to be downloaded to additional devices.
Answer: B
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Suppose that the price elasticity of supply for oil is 0.1. Then, if the price of oil rises by 20 percent, the quantity of oil supplied will increase
A) by 200 percent. B) by 20 percent. C) by 2 percent. D) by 0.2 percent.
A basic problem with the infant-industry argument is that:
A. most industries need protection when they are mature, not when they are first established. B. the amount of the tariff is unlikely to have much impact on the success of an infant industry. C. political pressure will likely prevent the withdrawal of the tariff when the industry matures. D. domestic consumers will continue to buy the foreign products anyway, regardless of the tariff.
Which of the following will cause a rightward shift of the market supply curve?
A. Change in consumers' tastes B. An increase in national income C. An increase in the product price D. A decrease in input prices
Are consumer surplus and equilibrium price directly or inversely related? Explain your answer
Please provide the best answer for the statement.