Once a product becomes established, network externalities may create ________ costs that make consumers reluctant to buy a new product with better technology
A) external
B) implicit
C) switching
D) marginal
Answer: C
You might also like to view...
Carolyn spends her income on popular magazines and music CDs. If the price of a CD is four times the price of a magazine and if Carolyn is maximizing her utility, she buys
A) four times as many CDs as magazines. B) both goods until the marginal utility of the last magazine purchased is four times the marginal utility of the last CD purchased. C) both goods until the marginal utility of the last CD purchased is four times the marginal utility of the last magazine purchased. D) four times as many magazines as CDs.
A significant problem of a dual exchange rate system is that it
(a) is difficult to administer. (b) leads companies to pursue rent-seeking behavior. (c) promotes black markets. (d) all of the above. (e) none of the above.
Toyota's just-in-time system is an example of
A) backward (upstream) integration. B) quasi-vertical integration. C) using transfer pricing to avoid price controls. D) horizontal, downstream integration.
Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?Table 8.4Table 8.4 presents the cost schedule for David's Figs. If David produces zero figs, David's total costs are:
A. $0. B. $90. C. $100. D. $130.