In the opinion of many consumers, there are few, if any, substitutes for the popular search engine Google. If Google were to charge consumers for its services, it would face:
a. a relatively inelastic demand curve.
b. a relatively elastic demand curve.
c. a negative income elasticity of demand.
d. a positive cross elasticity of demand.
e. a perfectly elastic demand curve.
a
Economics
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Typically, the greater the specialization of resources
A) the less production that takes place. B) the greater the bow of the production possibilities curve. C) the poorer the country becomes. D) the greater the unemployment in the country.
Economics
The existence of a natural monopoly stems from the size of the firm relative to the total market demand for the product of that firm.
Answer the following statement true (T) or false (F)
Economics