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Marcus Superberg has launched his new social media platform called the DeltaVerse, which he brags complies with privacy and cybersecurity legislation worldwide. The advertising campaign shows that you can share personal videos, pictures, text and voice messages with trusted friends only. Third parties, hackers or stalkers, cannot access, steal or sell your personal data. Marcus Superberg claims that he counts on the best team of computer programmers, and his DeltaVerse is powered by an unbreakable unique algorithm. Will Bates, the founder of MetaSpace and Marcus Superberg's closest competitor, knows that such an unbreakable algorithm is impossible to create. Will Bates knows first-hand that hackers are more skilful than ever in the history of computer sciences and cybersecurity technology is still in its infancy stages. Will Bates is angry as MetaSpace started losing subscribers to DeltaVerse and threatens Marcus Superberg in a TV show with legal action for misleading and deceiving the general public into believing that a 100% secure social media platform is possible. Marcus Superberg comes to you for advice and asks whether the MetaSpace founder is bluffing about bringing an action under the Australian Consumer Law as MetaSpace is just a competitor and not a consumer. Is MetaSpace likely to succeed in a legal battle against Marcus Superberg?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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