A network externality causes firms to sacrifice profits in the short run in order to satisfy their customers and increase their long-run profits
Indicate whether the statement is true or false
FALSE
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To understand how the colonial economy developed, Hughes and Cain (2011) claim one must understand
(a) what motivated colonists to settle in different locations. (b) what colonists produced, how much they produced, for whom they produced and with whom they traded. (c) the legal system in which they operated. (d) all of the above.
Corporations account for approximately what percentage of business activity in the United States?
a. 95 percent b. 90 percent c. 75 percent d. 50 percent e. 30 percent
Which one of the following statements is true?
a. A low discount rate is always better for environmental protection b. A high discount rate is always better for environmental protection c. A discount rate of zero is always best for environmental protection d. Discounting will decrease the magnitude of future costs and benefits e. High discount rates should be used to evaluate long-term impacts
As output? (GDP) is? increasing, the amount of cyclical unemployment would
A. decrease. B. increase. C. either increase or decrease. D. remain constant.