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The Snob Effect
- If network is negative externality, a snob effect exists.
* The snob effect refers to desire to own unique or exclusive goods.
* The quantity demanded of snob good is higher the fewer the people who are having it.
Network Externalities and Demands for Computers and Fax Machines
* Examples of Positive Feedback Externalities
- Mainframe computers: 1954 - 1965
- Microsoft Windows PC OS
- Fax-machines and electronic mail
expansionary fiscal policy occurs?
What is snob effect
Would a risk loving person prefer an increase in the chance of winning the lottery by 20% or an increase in the jackpot of 20%
MUa/MUb how it happens? and why this occur?
On what kind of income is our taxing system based?
How might a “perfect” macro equilibrium be affected by (a) a stock market crash; (b) the death of a president; (c) a recession in Canada; (d) a spike in oil prices?
prove that marginal utility of x=the price of commodity x.
clarify the opportunity cost theory
write name and symbol of element from s-block that has zero oxidation state?
The demand for soft drinks has been estimated asQx 20PX 0.25PY0.45M 2 Determine the own, cross and income price elasticities of demand. Interpret your results.
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