Use the following statements to answer this question: I. A network externality is a situation in which each individual's demand depends on the purchases of other buyers. II
Network externalities are mainly positive effects resulting from the actions of others, while ordinary externalities are mainly negative effects resulting from the actions of others. A) I and II are true.
B) I is true and II is false.
C) I is false and II is true.
D) I and II are false.
B
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When supply-side policy is successful in pushing up equilibrium real Gross Domestic Product (GDP), the reason is that the policy generates
A) a decrease in aggregate demand. B) an increase in aggregate supply. C) a decrease in employment. D) a decrease in saving.
Marginal revenue
a. Is the additional revenue incurred by selling one more unit b. Is the total revenue incurred by selling one more unit c. Is the total revenue incurred by selling all the firm's output d. Is the difference between total revenue and total costs