When the bandwagon effect exists, a change in price is likely to
A) change total revenue less than if there were no network externalities.
B) change total revenue more than if there were no network externalities.
C) change total revenue the same amount as if there were no network externalities.
D) not change total revenue at all.
B
Economics
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Are you likely to find perfect political competition in the real world? Explain
What will be an ideal response?
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One reason individuals are willing to pay for information in uncertain situations is that information
A) can reduce uncertainty. B) is a way to diversify. C) is a method of insurance. D) is a method of self-insurance. E) always reduces the difference between the probabilities of possible outcomes.
Economics