Recall the Application about the price competition between satellite and cable TV services to answer the following question(s).Recall the Application. In most cases where satellite TV service is introduced in an area with cable TV service, the quality of the cable TV service usually:
A. increases.
B. decreases.
C. initially increases, then decreases.
D. is unaffected.
Answer: A
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A decrease in the price of VCRs will increase demand for video cassettes.
Answer the following statement true (T) or false (F)
In which market structure does one firm sell a good or service with no close substitutes and there is a barrier blocking the entry of new firms?
A) only monopoly B) only oligopoly C) perfect competition D) monopolistic competition E) either monopoly or oligopoly
Refer to Figure 4-1. Kendra's marginal benefit from consuming the first ice cream cone is
A) $9.00 B) $7.50 C) $3.50 D) $0.50
Suppose that the natural rate of unemployment is 5.7 percent. If unemployment has for some time been varying between 5.1 and 5.3 percent, we should be at an actual real GDP ________ the natural real GDP, and should expect inflation to be ________
A) below, slowing down B) below, speeding up C) above, slowing down D) above, constant E) above, speeding up