In 2012, What Percentage of Internet Users Read Online Magazines

question 73

Multiple Choice

In 2012, what percentage of Internet users read online magazines?

• A)50%
• B)10%
• C)20%
• D)25%

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Definitions:

Complementary Inputs

Goods or services that are used together in production, where an increase in the use of one leads to an increase in the effectiveness of the other.

Substitution Effect

(1) A change in the quantity demanded of a consumer good that results from a change in its relative expensiveness caused by a change in the good’s own price. (2) The reduction in the quantity demanded of the second of a pair of substitute resources that occurs when the price of the first resource falls and causes firms that employ both resources to switch to using more of the first resource (whose price has fallen) and less of the second resource (whose price has remained the same).

Bilateral Monopoly

A bilateral monopoly occurs when a market consists of only one supplier (monopoly) and one buyer (monopsony), leading to unique negotiations and outcomes concerning prices and quantity.

Monopsonistic Employer

A market situation where a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers.