The Internet Has Made It Possible to Compare Lots of Prices

question 65

Multiple Choice

The Internet has made it possible to compare lots of prices without incurring a lot of cost.This

• A) has given firms added market power to price discriminate.
• B) has significantly reduced search cost and made markets more competitive.
• C) has enabled firms to charge higher prices to consumers with computers.
• D) has only affected technology markets.

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Definitions:

Copyright

The exclusive right that is granted by the federal government to sell and reproduce literary, musical, or artistic works for a period of time.

Plant Asset

Long-term tangible assets that are used in the operations of a business and are not intended for sale, such as machinery, buildings, and equipment.

Machine Account

An account used in bookkeeping to track the costs and depreciation of a company's machinery.

Residual Value

Estimated value of an asset after all the allowable depreciation has been taken.