Before the Breakup of AT&T Several Years Ago, Profits on Long-Distance

question 37

Multiple Choice

Before the breakup of AT&T several years ago, profits on long-distance calls offset losses on basic residential service.This practice is known as

• A)abuse of monopolistic power.
• B)cream skimming.
• C)cross-subsidization.
• D)the Ramsey rule.

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Definitions:

Protestant Ethic

A concept that emphasizes hard work, discipline, and frugality as a result of one's faith, particularly within Protestantism, which has been linked to the development of capitalism.

Max Weber

A German sociologist, economist, and political scientist known for his theories on bureaucracy, social stratification, and the sociology of religion, contributing significantly to the development of social science.

Development Of Capitalism

The historical and socio-economic process by which capitalist economic systems emerged and evolved, characterized by private ownership of the means of production and market-based economies.

Social Structures

The complex framework of societal institutions, relationships, and norms that shape the behavior and interactions of individuals and groups within a society.