Which of the following is NOT subject to a network effect?
A) the layout of the keys on your keyboard
B) rotating your tires every six months
C) using a fax machine
D) purchasing a new high-definition DVD player
B
You might also like to view...
If the wage rate rises, then in the long run, the firm will replace some of its labor with other factors such as capital, even if it keeps its output level constant. This phenomenon is known as
a. the substitution effect. b. the scale effect. c. the regressive-factor effect. d. the factor-price effect.
Refer to the table above. If there is no statistical discrepancy, the capital and financial account balance equals
A) -$200 billion. B) +$200 billion. C) -$220 billion. D) +$220 billion. E) +$20 billion.
Suppose the San Francisco 49ers lower ticket prices by 15 percent and as a result the quantity of tickets demanded increases by 10 percent. This set of results shows that San Francisco 49ers tickets have
A) an inelastic demand. B) an elastic demand. C) a unit elastic demand. D) an inelastic supply. E) an elastic supply.
Table 8-3 Quantity Price (dollars) Total Cost (dollars) 1 10 5 2 9 8 3 8 12 4 7 17 5 6 23 Explain how much the firm shown in Table 8-3 should produce, first using total profit and then using marginal analysis.
What will be an ideal response?