The type of the wireless internet service

Assignment Help Microeconomics
Reference no: EM13200656

Wireless high speed internet is provided for free in the airport of the city of communityville 

a)At first, only a few people use the service. What type a good is this and why? 

b) Eventually, as more find out about the service and start using it, the spend of a connection begins to fall. Now what type of a good is the wireless Internet service? 

c) What problem might result and why? What is one possible way to correct this problem?

Reference no: EM13200656

Questions Cloud

How would adjustments affect the slope of aggregate supply : In the short run, prices may rise faster than costs. This chapter discusses why this might happen. Suppose that labor and management agree to adjust wages continuously for any changes in the price level.
How much will he have to invest today to reach goal : Jim Smith believes in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compounded annually, how much will he have to invest today to reach his retirement goal?
Explaining behavior is easy-when we lack something : Your psychology professor tells you, "Explaining behavior is easy! When we lack something, we are motivated to get it." Which approach to motivation does your professor subscribe to?
Explain the concept of incremental cash flow analysis : Explain the concept of incremental cash flow analysis and its purpose and explain the difference between a sunk cost and an opportunity cost and give an example of each.
The type of the wireless internet service : Wireless high speed internet is provided for free in the airport of the city of communityville. At first, only a few people use the service. What type a good is this and why.
Where is the economy operating relative to potential gdp : What is the relationship between potential output and the natural rate of unemployment If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent
Childern learning to play percussion instrument : Define how you might contribute a lesson given to a group of 7 year old childern learning to play percussion instrument.
Role of servant to their constituents : In the role of servant to their constituents, members of congress:
What does the outcome reveal about the size of multiplier : (Advanced Analysis) Assume that the consumption schedule for a private open economy is such that consumption is as follows: C = 50 + 0.9 Y Assume further that planned investment Ig and net exports Xn are independent of the level of real GDP and const..

Reviews

Write a Review

 

Microeconomics Questions & Answers

  Is the null hypothesis rejected for the test

State the direction of the alternative hypothesis used to test whether the proportion of analysts correctly anticipating the Board's decision had changed. Type gt (greater than), ge (greater than or equal to), lt (less than), le (less than or equa..

  Competitive stance in marketplace

Explain how a company that is competing in a purely (or perfectly) competitive market should increase its competitive stance in the marketplace. Provide specific examples.

  Characteristics of the labor economists perspective

Suppose that a labor economist claims that recipients of economics PhDs gain little in terms of acquired productive skills from their graduate studies, but instead, the degree simply reflects a high level of inherent mathematical ability. Which on..

  Special characteristics of purely competitive firms

How does the investment banks industry fit into the perfectly competitive model - Special characteristics of purely competitive firms

  Calculate the firms short-run average cost

A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi=20). The minimum average cost is $10 per..

  Computing operating cash flow for project

Operating Cash Flows. Laurel's Lawn Care, Ltd., has a new mower line that can generate revenues of $120,000 per year. Direct production costs are $40,000 and the fixed costs of maintaining the lawn mower factory are $15,000 a year.

  Question about keynesian economics

Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the United States since the late 1980s?

  What is the change in the number of unemployed people

What is the change in the number of unemployed people in this particular month and what is the change in the number of  employed people  in the same period?

  Role of our government play in price ceilings

What role should our government play in Price Ceilings?

  What methods could lumber companies use

The demand for lumber, like that for carpenters, is a derived demand-derived from lumber demand in its many uses, particularly housing. When the demand for new housing increases, so does the demand for lumber. For example, as the U.S. economy reco..

  Determine the level of ceo

Many stocks and alternatives awarded or charged to CEOs are not indexed to either industry average or to market-wide averages

  Explain monopoly

Suppose that due to a new government study, consumer preferences for chicken suddenly increase. In the model of consumer theory, this would be represented by, During the 1990s, some countries lifted price ceiling on eggs.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd