Which of the following statements best describes the Internet market structure?
A. It is highly competitive, with many providers and no firms in a dominant position.
B. There are a few large firms, such as Google, Facebook, and Amazon, but they each
occupy their own niche and don't infringe on the others' territories.
C. There are a few large firms, such as Google, Facebook, and Amazon, each dominating a
particular sector but always trying to gain market share in another sector.
D. It is comprised of firms that have been granted monopolies by the government and are
highly regulated.
Answer: C
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One reason for the rise in the natural rate of unemployment from 1960 to 1980 is
A) changes in the demographic composition of the work force. B) the decline in inflation. C) increased competition from foreign workers. D) the depreciation of the dollar relative to foreign currencies.
In general, the quantity that maximizes revenue for the monopolist
A) is greater than the quantity that maximizes profit. B) is less than the quantity that maximizes profit. C) is the same as the quantity that maximizes profit. D) is illegal according to anti-trust statutes.