The cost borne by an individual user to switch to another network is small if the network which he is using is large
a. True
b. False
Indicate whether the statement is true or false
False
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If the government institutes a specific tax for a good that has a perfectly elastic demand curve
A) the producer passes the entire tax on to the consumer. B) the producer must absorb the entire tax. C) the producer can generally only pass part of the tax onto the consumer. D) the equilibrium price drops.
The interest rate charged for loans through the discount window is called the:
A. discount rate. B. reserve rate. C. interest rate. D. prime rate.
If people in the U.S. choose to save a smaller percentage of income, what will happen to the interest rate, net capital outflow, the exchange rate, and net exports?
Shadow prices are designed to take into account:
A. government intervention. B. social and moral pressures. C. market forces. D. the underground economy.