Why might network externalities result in products that contain inferior technologies?
What will be an ideal response?
Network externalities can create significant switching costs related to changing products. When a product becomes established, consumers may find it too costly to switch to a new product that contains a better technology.
Economics
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List factors that increase the price elasticity of supply
What will be an ideal response?
Economics
Flexible exchange rates, proving to be much ________ volatile than economists predicted, have led to ________ calls for a return to fixed exchange rates
A) less, few B) less, many C) more, few D) more, many
Economics