Once a product becomes established, network externalities may create ________ costs that make consumers reluctant to buy a new product with better technology

Convergence means that

A) if poor countries grow fast, then fast growing countries are poor. B) all countries grow at the same rate. C) all countries tend towards the same per capita income. D) the savings rate is positively related to per capita income.

Figure 17-13 In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, how many baseballs will the United States import?

a.
4,000
b.
6,000
c.
8,000
d.
10,000
e.
12,000