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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.
Economies of scale are advantages obtained from a company becoming large and diseconomies of scale are additional costs inflicted because a firm has become very large. The causes
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Allocated Stock and Safety Stock Allocated stock A category of stock which ensures that current stock is set aside and not issued under the normal procedure. Safet
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When the demand function is 2Q - 24 + 3P = 0, find the marginal revenue when Q=3.
who proposed the law of chemical combinations?
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Isomers are two or more forms of compounds which having the same compositions. Types of isomers (a) Stereo isomers (b) Structural isomers
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