A Good Is Path Dependent When

question 173

Multiple Choice

A good is path dependent when

• A)consumers get utility from consuming goods that others are consuming, such as restaurants.
• B)the first technology that was adopted has an advantage over a better technology that came later.
• C)people who move location follow the path of people who moved before them.
• D)it can only be used in one way.

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Definitions:

Agricultural Culture

Agricultural culture pertains to societies or communities that primarily rely on agriculture and farming as their basic source of livelihood and economic activity.

Culture Within

The complex of values, customs, beliefs, and practices that exists within a particular group, organization, or community, distinguishing it from others.

Lithuanian Americans

Individuals of Lithuanian descent residing in the United States, often maintaining cultural, linguistic, and historical ties to Lithuania.

Office Workers

Individuals who work in an office environment, typically performing administrative or clerical tasks.