Network Externalities Refer to the Situation Where the Usefulness of a Product

question 241

True/False

Network externalities refer to the situation where the usefulness of a product increases with the number of consumers who use it.

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Definitions:

Project Sponsor

An individual or group that provides financial resources, support, and oversight for a project.

Organizational Authority

The level of power or control assigned to roles or positions within an organization, dictating decision-making capacities.

Discrete Random Variables

Variables that take on a countable number of distinct and separate values.

Continuous Random Variables

Variables that can take an infinite number of values within a given range, for instance, weight or temperature.