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:

Medical Assistant

A healthcare professional who assists physicians in clinics and medical offices, often handling administrative and clinical tasks.

CPE

Continuing Professional Education, activities that professionals engage in to develop skills and increase knowledge.

Examination Instruments

Tools or devices used by healthcare professionals to conduct physical or diagnostic examinations.

Response To Sound

The reaction or behavior of an organism or device when exposed to auditory stimuli.