Suppose that if there are n users of a network, the value of the membership is proportional to n(n ? 1). If the value of a network to a single user is $1 for each other user on the network, then a network of size 100 has a value of:
a. $9,500.
b. $9,900.
c. $9,000.
d. $10,000.
e. $10,100.
b
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When society receives more benefits from a good than the individuals who consume the good,
a. the marginal social benefit for the good is less than the marginal social cost b. too much of the good would be produced by a private market c. property rights are assignable and well defined d. the good produces a positive externality e. the good is exhaustible with fixed-production technology
In numerous experiments, researchers have found that if a Proposer and a Responder are asked to split a fixed sum on money in the ultimatum bargaining game, the Proposer will, on average, offer the Responder:
A. nothing. B. less than would be predicted by standard economic theory. C. more than would be predicted by standard economic theory. D. exactly the amount that would be predicted by economic theory.
Autonomous consumption is NOT influenced by
A. Aggregate household wealth. B. Expectations of future income and wealth. C. Aggregate household debt. D. Disposable income.
A reduction in G or an increase in T would lead to lower real interest rates in the United States, a depreciating dollar, and, eventually, a smaller trade deficit..
Answer the following statement true (T) or false (F)