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    consider an individual with a current income of $40,000 that is considering committing a crime that has a payoff of $20,000 and a fine of $20,000 if the individual is caught. based on the standard becker criminal decision rule, which of the probabilities of getting caught listed below is the highest probability that would still give the individual incentive to commit the crime?

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    get consider an individual with a current income of $40,000 that is considering committing a crime that has a payoff of $20,000 and a fine of $20,000 if the individual is caught. based on the standard becker criminal decision rule, which of the probabilities of getting caught listed below is the highest probability that would still give the individual incentive to commit the crime? from EN Bilgi.

    Solved 1. Which of the following products is most likely

    Answer to Solved 1. Which of the following products is most likely

    Question: 1. Which of the following products is most likely to have patent protection?

    This problem has been solved!

    1.Which of the following products is most likely to have patent protection?

    Group of answer choices

    A.Office 365 (web-based software launched by Microsoft).

    B.The Lion King (animated movie produced by Disney).

    C.Lipitor (pharmaceutical drug for lowering cholesterol sold by Pfizer).

    D.Party Rock Anthem (music single performed by LMFAO

    2.Consider an individual with a current income of $40,000 that is considering committing a crime that has a payoff of $20,000 and a fine of $20,000 if the individual is caught. Based on the standard Becker criminal decision rule, which of the probabilities of getting caught listed below is the highest probability that would still give the individual incentive to commit the crime?

    Group of answer choices

    A.1/4 (or 25%)

    B.1/3 (or 33.33%)

    C.2/3 (or 66.67%)

    D.1/2 (or 50%)

    3.Above are some characteristics of potential corporate crimes that an individual with a current income level of $60,000 is considering committing. If the individual can only commit one of the above crimes due to time and resource constraints, which one will the individual rationally commit using the decision rule to only commit crime if utility is expected to increase by at least 10% after committing the crime?

    Group of answer choices

    A.Crime 2.

    B.Either Crime 1 or Crime 2 as they both have expected utility 10% greater than currentutility.

    C.Neither Crime 1 nor Crime 2 as they both do not have expected utility 10% greater than current utility.

    D.Crime 1.

    4.In thinking about how Spotify could achieve market dominance in streaming services, which of the following characteristics is not one that would enable Spotify to lead a winner-takes-all market?

    Group of answer choices

    A.Significant network effects.

    B.First-mover brand reputation.

    C.High barriers to entry.

    D.High switching costs.

    5.Which one of the following is not one of the benefits of well defined and enforced private property rights?

    Group of answer choices

    A.Owners will have more incentive to use their property to benefit others.

    B.Voluntary exchanges between property owners will occur more frequently.

    C.Owners will have more incentive to maintain the resources that they own.

    D.Owners will devote less resources to developing new technology.

    6.Based on the Spotify case, how were music piracy sites (like Napster, Gnutella, and Torrent) able to provide a framework for music swapping?

    Group of answer choices

    A.communal property rights are given to produced music, so everyone has the right to use the songs that are produced.

    B.there was no enforcement within the internet of the copyright laws that protect music producers.

    C.the typical patent protection given to produced music does not apply to internet consumers of music.

    D.the ownership rights of produced music had never been defined by government laws and regulations.

    Expert Answer
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    Answer 1 : (A) Office 365 is most likely to have patent protection. Answer 2 : (B) 1/3 wi…View the full answer

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    G202 Flashcards

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    Created byajgills
    Terms in this set (24)
    Based on the Ventria Bioscience case; the political action of disallowing GM rice inCalifornia can best be described as what type of political issue?a) Majoritarian issue.b) Client issue.c) Entrepreneurial issue.d) Interest Group issue.D
    For any particular special interest group, lobbying over a specific political issue willlikely be successful when the issue is classified asa) a majoritarian issue.b) a client issue.c) an interest group issue.d) an entrepreneurial issue.B
    The 'special interest effect' refers to the bias of government in favor of policies thata) support small groups at the expense of large groups.b) serve national interests, such as national defense.c) serve consumer interests at the expense of businesses.d) support large groups at the expense of small groups of business firms.A
    Based on the Ventria Bioscience case; which of the following was considered to bepart of the potential stakeholder allies of Ventria?a) World Health Organization.b) California Secretary of Agriculture.c) Friends of the Earth.d) Anheuser-Busch.A
    Given an industry is producing the socially efficient output level, a tax placed on theindustry will result in inefficiency because the market will producea) too many units, as some units produced will have more productive costs thanconsumer value.b) too many units, as some units produced will have more consumer value thanproductive costs.c) too few units, giving up some units that have more consumer value thanproductive costs.d) too few units, giving up some units that have more productive costs thanconsumer value.C
    Based on the Spotify case, how were music piracy sites (like Napster, Gnutella, andTorrent) able to provide a framework for music swapping?a) the ownership rights of produced music had never been defined by governmentlaws and regulations.b) communal property rights are given to produced music, so everyone has the rightto use the songs that are produced.c) the typical patent protection given to produced music does not apply to internetconsumers of music.d) there was no enforcement within the internet of the copyright laws that protectmusic producers.D
    If a firm is earning zero economic profit, ita) has incentive to shut down and leave the market.b) is earning below the normal rate of return.c) is also earning zero accounting profit.d) is doing as well as the typical firm of that industry.D
    Which one of the followingis not one of the benefits of well defined and enforcedprivate property rights?a) Voluntary exchanges between property owners will occur more frequently.b) Owners will devote less resources to developing new technology.c) Owners will have more incentive to use their property to benefit others.d) Owners will have more incentive to maintain the resources that they own.B
    Given what happens to the price buyers pay and the price sellers ultimately receiveafter a subsidy is granted to sellers, what happens to the level of consumer andproducer surplus after the subsidy takes effect?a) Consumer surplus increases, while producer surplus decreases.b) Both consumer surplus and producer surplus decrease.c) Consumer surplus decreases, while producer surplus increases.d) Both consumer surplus and producer surplus increase.D
    The political action surrounding the location of federal nuclear waste dump sites inthe US, can best be described as havinga) concentrated costs and widely dispersed benefits.b) concentrated costs and concentrated benefits.c) widely dispersed costs and widely dispersed benefits.d) widely dispersed costs and concentrated benefits.A
    Consider an individual with a current income of $40,000 that is consideringcommitting a crime that has a payoff of $20,000 and a fine of $20,000 if theindividual is caught. Based on the standard Becker criminal decision rule, which ofthe probabilities of getting caught listed below is the highest probability that wouldstill give the individual incentive to commit the crime?a) 2/3 (or 66.67%)b) 1/2 (or 50%)c) 1/3 (or 33.33%)d) 1/4 (or 25%)C
    Which of the followingis not a reason why a business firm would want to employ theservices of an intrepreneur?a) To maintain existing levels of operational efficiency.b) To keep ahead of rival, competitive firms in product development.c) To discover more profitable projects for the firm to undertake.d) To keep the brightest minds within the corporation.A
    Based on the Ventria case, which of the following PEST shocks didnotlead to thenon-market barrier that blocked Ventria from planting rice in California?a) Politicalb) Economicc) Sociald) TechnologicalD
    Within the Becker model of crime, which of the following variables does governmentcompletely control?a) The payoff of the crime.b) Income levels.c) The size of the punishment.d) The probability of getting caught.C
    The normal rate of return on a business owner's capital investment is also known asthea) explicit cost of capital.b) marginal cost of capital.c) opportunity cost of capital.d) fixed cost of capital.C
    Below are some characteristics of potential corporate crimes that an individual with acurrent income level of $60,000 is considering committing. Based on the standardBecker model of crime where an individual's utility is only dependent on income,answer questions (16) and (17) that follow.Crime 1:Crime 2:Payoff=$40,000Payoff=$20,000Probability of getting caught=3/5Probability of getting caught=1/4Punishment=$20,000 finePunishment=$20,000 fine16) If the individual can only commit one of the above crimes due to time and resourceconstraints, which one will the individual rationally commit using Gary Becker'sstandard criminal decision rule?a) Crime 1b) Crime 2c) Either Crime 1 or Crime 2 as they both have expected utility greater than currentutility.d) Neither Crime 1 nor Crime 2 as they both have expected utility less than currentutility.17) Again assuming the individual can only commit one of the above crimes due to timeand resource constraints, which one will the individual rationally commit using thedecision rule to only commit crime if utility is expected to increase by at least 20%after committing the crime?a) Crime 1b) Crime 2c) Either Crime 1 or Crime 2 as they both have expected utility 20% greater thancurrent utility.d) Neither Crime 1 nor Crime 2 as they both do not have expected utility 20%greater than current utility.BD
    In thinking about how Spotify could achieve market dominance in streaming services,which of the following characteristicsis not one that would enable Spotify to lead awinner-takes-all market?a) High switching costs.b) First-mover brand reputation.c) Significant network effects.d) High barriers to entry.B
    According to the Becker model of crime, under the scenario where the expectedutility from committing a crime is exactly equal to the current utility,a) the individual always commits the crime.b) the individual never commits the crime.c) the individual commits the crime 50% of the time.d) the Becker model has no predictive power as the individual's risk preferences willdictate if the individual commits the crime or not.D
    Part of the criteria to achieve the socially efficient production level is for firms toonly produce units of output thata) have higher prices than the benefits of using the productive resources.b) have more quantity demanded than quantity supplied.c) give more of the market surplus to producers than to consumers.d) are more highly valued by consumers than the associated productive costs.D
    Consider an individual with a current income of $60,000 that is consideringcommitting a crime that has a payoff of $40,000 and a 1/2 probability of gettingcaught. Based on the standard Becker criminal decision rule, which of the fineamounts listed below is the lowest fine that government could set to be certain thatthe individual does not have incentive to commit the crime?a) $32,000b) $40,000c) $42,000d) $60,000C
    Which of the following products is most likely to have patent protection?a) Lipitor (pharmaceutical drug for lowering cholesterol sold by Pfizer).b) Office 365 (web-based software launched by Microsoft).c) The Lion King (animated movie produced by Disney).d) Party Rock Anthem (music single performed by LMFAO).A
    The process of creative destructiona) improves market efficiency through the turnover of technology.b) permanently increases unemployment.c) locks resources into inefficient production technologies.d) lowers the living standards of a society.A
    Based on the Spotify case, which of the following statements isincorrectregardingthe fee-based services, such as Pressplayor MusicNet, that were launched by themusic labels as a first response to capturing the new digital music preference?a) The fee-based services had several limitations on the number of downloads thatcan be performed with each music track.b) Some fee-based services had expiration codes in their songs, so that if users didnot renew their subscription, their music would expire and become unusable.c) Both MusicNet and Pressplay were ranked in the top ten on PC World's list of the"Worst tech products of all time."d) The fee-based services had unlimited artist selection as they had cross-listedsearch functions between the different music labels.D
    Which of the followingis not one of the competitive advantages that allowed Uber todisrupt the taxi cab industry?a) Efficient scaling in a two-sided market.b) Incumbent advantage with shaping local regulations.c) Technology-based reduction in search cost.d) Avoidance of regulatory compliance cost.B

    Source : quizlet.com

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