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NETWORK EXTERNALITIES
Till this point we have assumed that people's demands for good are independent of each other.
Actually, a person's demand can be affected by the number of other people who have purchased that good.
If this is the case, a network exists externality.
Network externalities can be negative or positive.
A positive network exists externality if the quantity of a good demanded by a consumer increases in response to an increase in the purchases by other consumers.
Negative network externalities are the opposite of it.
Selecting Output in Short Run * We will combine production and cost analysis with demand to determine output and profitability. A Competitive Firm Making Positive Profit
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pls i want to estimate a cost function for the data i coollected from a research on cassava production .i have the cost for each input and output but do not how to go abo0ut it.
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