The iPhone no longer comes pre-loaded with Google Maps but instead has the Apple map application pre-loaded. Regulators might be concerned with this requirement because they might see it as an example of
A) resale price maintenance.
B) a tying arrangement.
C) predatory pricing.
D) collusion to create a monopoly.
B
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The relationship between the interest rate and the asset demand for money is
A. positive sometimes and inverse other times. B. positive. C. nonexistent. D. inverse.
Pappy's Popcorn Emporium operates in a perfectly competitive industry and hires you as an economic consultant. Pappy's is currently producing at a point where market price equals its marginal cost. Its total revenue exceeds both its total variable cost and its total cost. You advise Pappy's to
A. raise its price so that it can increase its profit. B. cease production immediately because it is incurring a loss. C. continue to produce in the short run to maximize its profit. D. lower its price immediately in anticipation of new firms entering the industry.