Which of the Following Is Used to Explain Why a Consumer's

question 299

Multiple Choice

Which of the following is used to explain why a consumer's willingness to buy a cell phone increases as the number of other people who own and use cell phones increases?

• A)network externalities
• B)market failure
• C)diminishing marginal utility
• D)the income effect of a price change

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Definitions:

Myelination

The phenomenon in which glial cells wrap themselves around the axons of neurons, providing an insulating sheath that facilitates the conduction of electrical impulses.

Methylation

An epigenetic change that makes the expression of a gene less likely. It involves the addition of a methyl group (an organic molecule) to DNA, either to the coded gene or to regulatory DNA. Or, it can involve the addition of a methyl group to histones that bind with DNA.

Epigenetic Change

Modifications in gene expression caused by mechanisms other than changes in the underlying DNA sequence, influenced by environmental factors.

Gene Expression

The process by which the information encoded in a gene is used to direct the assembly of a protein molecule.