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Author Question: In August 2008, Ethan Nicholas developed the iShoot application for the Apple iPhone 3G, and within ... (Read 119 times)

iveyjurea

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on: Jun 29, 2018
In August 2008, Ethan Nicholas developed the iShoot application for the Apple iPhone 3G, and within five months had earned 800,000 from this program. By May 2009, Nicholas had dropped the price from 4.99 to 1.99 in an attempt to maintain sales.
 
  This example indicates that in a competitive market
  A) earning an economic profit in the long run is extremely easy.
  B) economic profits are only earned in the long run.
  C) earning an economic profit in the long run is extremely difficult.
  D) it is impossible to earn an economic profit in either the short run or the long run.

Question 2

Explain how collusion makes firms better off. Given the incentives to collude, briefly explain why every industry does not become a cartel.
 
  What will be an ideal response?
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ultraflyy23

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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iveyjurea

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Reply 2 on: Jun 29, 2018
:D TYSM

carlsona147

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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