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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
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lung run eqiulibrium
Q. Definition of labour force? Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force incl
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