copy from the record company. This instance serves as an example of: O market power. O inefficient trade. O the invisible hand at work. O inadequate enforcement of property rights.
copy from the record company. This instance serves as an example of: O market power. O inefficient trade. O the invisible hand at work. O inadequate enforcement of property rights.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text:A record company went out of business
because too many of its customers
downloaded its music illegally from the
internet rather than purchasing the digital
copy from the record company. This
instance serves as an example of:
market power.
O inefficient trade.
O the invisible hand at work.
O inadequate enforcement of property rights.
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