E-Cash Is a Software Payment System That Allows

question 22

Multiple Choice

E-cash is a software payment system that allows

• A)web-wrap agreements to be negotiated.
• B)netbanking.
• C)payment through the use of a debit card.
• D)payment through the use of a plastic credit card.
• E)the anonymous transfer of money over the Internet.

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Definitions:

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and potentially higher prices for consumers.

Effective Collusion

A situation where firms in a market agree to act together instead of competing, often to fix prices or market shares, to maximize their profits.

Marginal Revenue

The additional income gained from selling one more unit of a product or service, crucial in determining the optimal level of output for a company.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.