Many Economists Do Not Believe That Network Externalities Lock Consumers

question 117

Multiple Choice

Many economists do not believe that network externalities lock consumers into the use of products that have technology inferior to other, similar products.These economists believe that

• A)consumers are always rational.
• B)in practice, the gains from using a superior technology exceed the losses consumers incur from switching costs.
• C)there is no good evidence that switching costs exist.
• D)the government will prevent products with inferior technology from being sold to consumers.

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Definitions:

Longest Muscle

The Sartorius muscle, extending from the hip to the knee, recognized as the longest muscle in the human body.

Sartorius

The longest muscle in the human body, running from the hip to the knee, and aiding in flexing, abduction, and lateral rotation of the thigh.

Biceps Femoris

A muscle of the thigh located at the back of the leg, part of the hamstrings group, involved in knee flexion and thigh extension.

Gastrocnemius

A major muscle located in the back part of the lower leg that helps in bending the knee and pushing the foot down, such as when walking or jumping.