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econlab017 - r Exercise Score[II at 1 pt Assignmnt Score...

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Unformatted text preview: r \ Exercise Score: [II at 1 pt Assignmnt Score: 30% [E- at 20 p15] 60f!” complete a Read the news clip, then complete the foIlowing statements. The Right Price For Digital Music: Why .99 cents per song is too much, and too little. {LIL "1|.qu “J P4: EL e'flijgm; thB lyric: is, higher for more popular Apple‘s 99-cents—for—eyerything model isn‘t perfect. ISII‘l 99 tunes cents too much to pay for music that appeals to just a few -':::?C. in Hi 'ent; the price rec . {by if s is less on peglEFBWhat we meg-rs a sysLemfatihat will confimre toThe tunes that it used to he pa . corporate co ers yet e to music vers some sohmon.‘ a real—time connnodfles market that combines ,5“ D. inefficient; the price is greater than the marginal aspects of Apple‘s i'I‘unes5 Nasdaq; the Chicago Mercantile social cost of zero Exchangeb Priceline, __ Songs would be priced It! I. IJI I51"; LI _ ' .' 'i' I-_I hl 'L'JI LL. I a 'Ihepricing scheme describedinthenewsclip a ® Sorry, that's not correct. OA' is;i'I‘In1escansellasmanytm1esastheylikeat Itisnottruethatthepricing schemedesm'hedinthenewsclipisa "pure the going price free—market sohrtion" because there is free entry into the market by consumers. OB. ismt;priceisnotdetenninedhy supplyand demand Free entry into the market by consumers does not mean it is a "pure free—market". GE. is not; no one is selling the tunes except iTunes "pure free—market sohrtion" because In a "pure free—market" price must be determined at the intersection ofthe demand curve and the supply curve. @D. is; thereisfree entryintothemarket by consumers Click to select your answer, then click Check Answer. ............ W... = |:I ' ...
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