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Author Question: What is a network externality? A) It refers to a product that requires connection to a network ... (Read 86 times)

nenivikky

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What is a network externality?
 
  A) It refers to a product that requires connection to a network for it to be useful.
  B) It refers to a situation in which a product's usefulness increases with the number of people using it.
  C) It refers to having a network of suppliers and buyers for a good or service.
  D) It refers to lobbying to form a public enterprise.

Question 2

If economies of scale are relatively unimportant in an industry, the typical firm's long-run average total cost curve will reach a minimum at a level of output that is a ________ fraction of total industry sales. The industry will be ________.
 
  A) large; competitive B) small; an oligopoly
  C) large; an oligopoly D) small; competitive


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missalyssa26

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