A Winner-Takes-All Market, Like That for Entertainers, Exhibits Huge Differences

question 2

Multiple Choice

A winner-takes-all market, like that for entertainers, exhibits huge differences between the top talents and the next tier of artists in all of the following aspects, except

• A)marginal revenue product.
• B)talent.
• C)earnings.
• D)media hype.

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Definitions:

LLLP

A Limited Liability Limited Partnership (LLLP) is a form of partnership that provides limited liability to all its partners, not just the limited partners as in a traditional limited partnership.

Certificate of Existence

An official document issued by a government authority that confirms the legal status and existence of a corporation or other entity at a certain date.

Limited Partnership

A partnership structure where some partners contribute capital and enjoy profits without managing the business, hence have limited liability.

Sole General Partner

is an individual or entity that is the only general partner in a partnership, responsible for the management of the partnership and personally liable for its debts.