In industries in which strong network effects exist, which industry structure is likely to emerge?

The opportunity cost of going to college full time away from home includes

A) the income you could have earned from a full-time job. B) the funds you would have saved if you had not paid the tuition. C) the time you could have spent with friends back home. D) All of the above are correct.

The fallacy of composition is the fallacious view that

a. economic activity will benefit everyone. b. what is true for the individual will also be true for the group. c. it is possible for the whole to be greater than the sum of the individual parts. d. association does not necessarily indicate causation.