When network externalities are present:
A. a person's demand cannot be affected by the number of other people who have purchased the good.
B. we can obtain the market demand curve simply by summing individuals' demands.
C. one person's demand also depends on the demands of other
people.
D. the social cost of production is larger than the private cost
C. one person's demand also depends on the demands of other
people.
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Opportunity costs would be increased by
a. firing all workers and moving the plant to China b. removing all of the safety features from factory machinery c. an across the board increase on all products d. switching from producing one product to another
The above figure depicts an economy
A) with an inflationary gap. B) with a recessionary gap. C) producing at full employment. D) None of the above answers is correct.