What do Spotify and Apple have in common?
A) The profitability of each firm depends on its interactions with other firms.
B) Each company was founded in the same state.
C) The industry in which each firm competes is an oligopoly because of government-imposed barriers to entry.
D) Each achieved a dominant position in its industry because it owned a key input in the production of its product.
A
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There is a growing market for buying and selling information about the online behavior of consumers. Most people use one of only a small number of search engines (such as Google, Bing, or Yahoo!) when surfing the net
It has been hard for new search engines to gain any market share. The market for search is best considered as A) perfectly competitive. B) oligopoly. C) monopolistically competitive. D) monopoly.
Which of the following is not consistent with a self-correcting economy?
a. Falling wages that correct a recessionary gap b. Falling prices that correct a recessionary gap c. Rising prices that correct an expansionary gap d. Tendency of the short-run aggregate supply to shift until it intersects aggregate demand at potential GDP e. An active approach to a recession or depression