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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.
Direct and Indirect Benefits Life time earnings of an educated person is an instance of direct benefit from education. Skills produced in training or extension programmes in a
. Suppose fixed costs increase by $20. How will this affect TFC, TVC, TC, ATC, AVC and MC? Which numbers change and which stay the same?
dicuss the relevance of studing production theory and analysis inn your career as a student of manegerial economics
Ask questi‘Social welfare functions embody a normative conception of the relative importance of equity and efficiency’. With the aid of diagrams, illustrate and explain this propos
how microeconomic issues maybe represented using production posibility curve
EXCEPTIONAL SUPPLY
Variable and Total cost curve * Consequently (from the table which is given): - MC initially decreases with increasing returns 0 through 4 units of output
Economic policy efficiently: The reason for poverty and misery in the developing countries is not essentially the lack of potentialities or resources, human or material, but t
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