Which of the Following Statements Accurately Represents How Independent Musicians

question 52

Multiple Choice

Which of the following statements accurately represents how independent musicians use the Internet?

• A) The Internet is a big obstacle for new musicians because they lose money on illegal song downloads.
• B) The Internet doesn't really have much impact on new or independent musicians.
• C) The Internet provides an inexpensive way for new artists to create a fan base using social networking sites.
• D) No musicians have been able to use the Internet to launch a mainstream music career.
• E) The Internet is the only way for independent musicians to launch a mainstream music career.

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Definitions:

Perfect Knowledge

A hypothetical situation in economics where all consumers and producers have complete and instantaneous knowledge of all market prices, conditions, and trends.

Perfect Mobility

A theoretical condition where factors of production, such as labor and capital, can be freely moved from one use to another without costs or barriers.

Marginal Revenue

The revenue increment achieved by selling an extra unit of a product or service.

Marginal Cost

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