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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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why d block elements are called inner transition elements?
Marginal Revenue, Marginal Cost & Profit Maximization * Determining profit maximizing level of output - Profit (π ) = Total Revenue - Total Cost - Total Revenue (R) = Pq
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