According to an article in the New York Times: On Tuesday, Google will release a free Web browser called Chrome that the company said would challenge Microsoft's Internet Explorer, as well as the Firefox browser. The browser is a universal doorway to the Internet, and the use of Internet software and services is rapidly growing. Increasingly, the browser is also the doorway to the Web on cell phones and other mobile devices, widening the utility of the Web and Web advertising. Google, analysts say, cannot let Microsoft's dominant share of the browser market go without a direct challenge. John Lilly, chief executive of the Mozilla Corporation, which manages the Firefox project, said that Google's action would put "more competitive pressure on us to keep coming up with great browser technology." a. What does the article mean by "competitive pressure"? Which of the five competitive forces is the article referring to? b. In the long run, will the company that first incorporates new innovations in its browser technology earn economic profits? Which group is likely to benefit the most from these innovations: the browser companies or consumers?

Q The competitive equilibrium rent in the city of Lowell is currently $1,000 per month. The government decides to enact rent control and to establish a price ceiling for apartments of $750 per month. Briefly explain whether rent control is likely to make each of the following people better or worse off: a. Someone currently renting an apartment in Lowell b. Someone who will be moving to Lowell next year and who intends to rent an apartment c. A landlord who intends to abide by the rent control law d. A landlord who intends to ignore the law and illegally charge the highest rent possible for his apartments