How does an information product differ from a product such as a desk?
What will be an ideal response?
An information product has a very high fixed cost component compared to the marginal cost of production while a desk does not. Once an information product have been developed it is relatively inexpensive to reproduce while the cost of reproducing a desk is more expensive.
Economics
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Successful activist stabilization policy presumes that
A) the timing of policy impacts on nominal GNP are known. B) the magnitude, size of impacts, are known. C) the timing and magnitude of the impact of AD disturbances are known, forecasted with precision. D) All of the above.
Economics
Of the following countries, which one best exhibits the characteristics of a market economy?
A. Canada. B. Cuba. C. North Korea. D. Belarus.
Economics