Which of the Following Statements About E-Books Is False

question 84

Multiple Choice

Which of the following statements about e-books is false?

• A) E-books accounted for 38 percent of U.S. adult fiction book sales by 2013.
• B) E-books will likely surpass the print book market by 2017.
• C) Apple's iPod, iPad, and iPhone devices are so successful other competitors are backing away from the e-book business.
• D) Several companies, including Apple, Amazon, Barnes & Noble, and Google, are competing for shares of the e-book market.
• E) All of the options are correct.

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Definitions:

Total Cost

The entire cost of production including both fixed and variable costs.

Marginal Cost

The upsurge in total financial outlay occasioned by the production of one supplementary unit of a product or service.

Marginal Revenue

The additional revenue that a firm gains when it sells one more unit of a product.

Monopolist's Profits

The excess earnings a monopolist achieves by setting the price above marginal cost due to lack of competition.