When network externalities are present, the market demand for the good in question becomes:
A. less elastic.
B. more elastic.
C. unit elastic.
D. perfectly inelastic.
B. more elastic.
Economics
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How do Pigouvian taxes help in reducing pollution?
What will be an ideal response?
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Marginal profit is the profit
A. earned by a firm that is about to go out of business. B. calculated directly from the total cost curve. C. that is added by a one-unit increase in total output. D. earned for each dollar of cost increase.
Economics