Which of the following statements correctly identifies a similarity between network effects and economies of scale?
A) Both are related to costs incurred by a firm.
B) Both act as barriers to entry in a market.
C) Both act as disincentives to monopolies.
D) Both are related to the number of consumers using a firm's product.
B
Economics
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Why do economists regard who is legally responsible for paying the tax to be irrelevant?
What will be an ideal response?
Economics
Workers and firms both expect that prices will be 3% higher next year than they are this year. As a result
A) aggregate demand will increase by 3%. B) workers will be willing to take lower wages next year. C) the purchasing power of wages will rise if wages increase by 3%. D) the short-run aggregate supply curve will shift to the left as wages increase.
Economics