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.

Understand the implications of political behavior in leadership and performance appraisals.

Gain familiarity with the Situational Leadership Model and its application.

Explore legacy models of leadership and their characteristics.

Comprehend the range and dimensions of leadership styles within the Vroom-Jago model.

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Definitions:

Auditory Information

Data or input received and processed through the sense of hearing.

Trace Memory

A faint or residual memory that remains after the initial memory fades, sometimes hard to consciously recall without cues.

Sensory

Relating to sensation or the physical senses; transmitted or perceived by the senses.

Short-Term

Short-term usually describes a limited period or duration, often referring to memory, where it indicates the capacity to hold small amounts of information in an active, readily available state for a brief period of time.