Answer the following questions true (T) or false (F)
1. Network externalities refer to the situation where the usefulness of a product increases with the number of consumers who use it.
2. A public franchise gives the exclusive right to produce a product for 20 years from the date the product is invented.
3. A virtuous cycle refers to the development of new products that follows when a monopoly earns economic profits.
1. TRUE
2. FALSE
3. FALSE
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Who benefits from imports?
A) domestic consumers B) domestic producers C) foreign consumers D) Both answers A and B are correct.
Which of the following countries has experienced negative economic growth in the last 20 years?
A) Zimbabwe. B) Chad. C) The United States. D) China.
Political business cycles are economic fluctuations that occur when discretionary policy is manipulated for public interest
Indicate whether the statement is true or false
Are outstanding credit card balances counted as part of the money supply?
What will be an ideal response?