Explain the distinction between lagged-demand-network good

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Reference no: EM131001179

For “standard” goods, the consumption of a good today has no effect on future consumption. But the authors suggest that this is not true of all goods.

1) Briefly explain the distinction between a “lagged-demand” and a “network” good.

2) If the widgets are a “lagged-demand” good, how would it affect your firm’s pricing strategy?

Reference no: EM131001179

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