Some economists have suggested that network externalities result in consumers being locked into the use of products with inferior technologies
Economists Stan Leibowitz and Stephen Margolis have studied cases that have been cited as examples of this and found
A) that consumers use products with inferior technologies when their prices are lower than products with superior technologies.
B) that in all of these cases network externalities resulted in market failure.
C) there is no convincing evidence that the alternative technologies were superior.
D) consumers sometimes do become locked into the use of products with inferior technologies.
C
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Usually an abundance of natural resources ________ labor productivity.
A. increases B. has no effect on C. decreases D. doubles
Ball found that the disinflation of the early 1980s in the United States had a sacrifice ratio of about
A) 0. B) 1. C) 2. D) 3.
Special-interest programs are highly attractive to vote-seeking politicians because
What will be an ideal response?
consumer surplus
What will be an ideal response?