A good is characterized by network economies if it:
A. becomes more valuable as more people own it.
B. is widely advertised on television.
C. can be used by more than one person at a time.
D. becomes cheaper to produce as more people buy it.
Answer: A
You might also like to view...
If the long-run average total cost curve is downward-sloping, then the firm is experiencing decreasing returns to scale
Indicate whether the statement is true or false
A demand curve will shift out for any of the following reasons except that:
a. preference for a good increases. b. price of a substitute falls. c. income rises. d. price of a complement falls.
The primary purpose of the legal reserve requirement is to:
A. prevent banks from hoarding too much vault cash. B. provide a means by which the monetary authorities can influence the lending ability of commercial banks. C. prevent commercial banks from earning excess profits. D. provide a dependable source of interest income for commercial banks.
Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 
Figure 10.3 Refer to Figure 10.3. If labor supply is given by S1 and the firm is using K1 units of capital, this firm should hire ________ units of labor to maximize profit.
A. I0 B. I1 C. I2 D. I3