16) From a legal standpoint, the production of a specific electronic information

Question

16) From a legal standpoint, the production of a specific electronic information good, like a book, song, movie, etc. is an example of a) monopoly b)oligopoly c) imperfect competition d) perfect competition e) public goods market 19) The existence of free bootleg software suggests that it is a(n) a) monopoly b) oligopoly c) imperfect competition d) perfect competition e) public goods market 20) In which kind of market does one see firms expend very large sums of money on high-end advertising campaigns? a) monopoly b) oligopoly c) imperfect competition d) perfect competition e) public goods market 1) Recessions occur because of 1) real adverse shocks to the economy 2) shocks to technology 3) difficulties in coordinating economic affairs 4) all of the above 5) none of the above

Explanation / Answer

16) monopoly because of patent or copyright

19)public good market because their consumption are non rival ans non excludable

20)Oligopoly but the correct answer is monopolistic competition but it was not an option, so go with Oligopoly

1) Recession occur because of real adverse shocks and shocks to technology and difficulties in coordinating economic affairs. I.e. All of the above.

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