Goods That Are Subject to Network Externalities Tend to Be

question 220

Multiple Choice

Goods that are subject to network externalities tend to be ones:

• A)for which the value of the good to an individual is lower when more people use it.
• B)that are land-intensive.
• C)for which the value of the good to an individual is higher when more people use it.
• D)for which one person owning the good enhances its value because it's the only one.

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Definitions:

Identify

To recognize or establish the identity or nature of someone or something.

Olive

A small, oval-shaped fruit that is typically green, black, or purple and is commonly used for oil or as a food item.

Apple

denotes a widely consumed fruit from the apple tree (Malus domestica), known for its sweet taste and nutritious benefits.

Recognition Heuristic

A strategy in which decision making stops as soon as a factor that moves one toward a decision has been recognized.