People's willingness to buy the PC or Mac format of computer software depends on how popular the software format is among other consumers. This is an example of
A) a cartel.
B) an opportunity cost.
C) a network effect.
D) the prisoners' dilemma.
C
Economics
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Expansionary fiscal policy falls short of its goal. Some economists claim it is due to indirect crowding out. What evidence would be consistent with this claim?
A) The interest rate increased. B) The price level decreased. C) Saving decreased. D) An increase in consumer spending occurred.
Economics
Why is the competitive equilibrium price often referred to as the market clearing price?
What will be an ideal response?
Economics