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Explore the crisis that Internet file sharing of copyrighted music recordings has caused for Vivendi Universal, Sony Music, EMI, and AOL Time Warner Music, which together formerly supplied 70 percent of the global music industry. Questions How would the Internet firms Napster and Kazaa be reflected in a Porter Five Forces industry analysis? Why was […]

Charging $17.99 a month for an unlimited number of movie rentals (three at one time), Netflix revolutionized the movie rental business with a one-day mailing service for DVDs and acquired 12 million subscribers and $1.5 billion in revenue. However, Block-buster, the video rental giant from the earlier $5.5 billion bricks-and-mortar movie rental business, decided to

Ethanol is again viewed as one part of a solution to the problem of shortages of petroleum products. Ethanol is made from a blend of gasoline and alcohol derived from corn or sugarcane. What would you expect the impact of this program to be on the price of corn, soybeans, and wheat? Why invest capital

Economics is the study of a. how to make money.b. how to operate a business.c. people making choices because of the problem of scarcity.d. the government decision-making process.

Which of the following is an example of a proposition from positive economics? a. If John Kerry had been elected president, tax-payers would have been treated more fairly than under George W. Bush. b. The average rate of inflation was higher during George W. Bush’s presidency than during Bill Clinton’s presidency. c. In economic terms,

Computer software programs are an example of a.  capital.b.  labor.c.  a natural resource.d.  none of the above.

Straight line CD in Exhibit A-7 shows that a. increasing the value of X will increase the value of Y.b. decreasing the value of X will decrease the value of Y.c. there is a direct relationship between X and Y.d. all of the above are true. In Exhibit A-7, the slope of straight line CD

Microeconomics approaches the study of economics from the viewpoint of a. individual or specific markets.b. the operation of the Federal Reserve.c. economywide effects.d. the national economy.

Explain verbally the statement “There is no such thing as a free lunch” in relation to scarce resources. Which of the following decisions has the greater opportunity cost? Why? a. A decision to use an undeveloped lot in Tokyo’s financial district for an apartment building.b. A decision to use a square mile in the desert

1. Straight line AB in Exhibit A-8 shows that a. increasing the value of X reduces the value of Y.b. decreasing the value of X increases the value of Y.c. there is an inverse relationship between X and Y.d. all of the above are true. As shown in Exhibit A-8, the slope of straight line