Question: During the 1970s 55 percent of banks with more than
During the 1970s, 55 percent of banks with more than 15 branches installed automated teller machines (ATMs), as opposed to 16 percent of banks with only 2 branches. Explain why this phenomenon attests to the presence of positive net-work effects.
Relevant QuestionsTony currently goes to the dentist twice a year at $ 150 per visit. His employer subsidizes Tony’s purchases by paying half the cost of each dental visit in excess of one visit per year. (No subsidy is granted on the first ...“For a person who saves in year 1, a higher interest rate will increase consumption in year 2 but may either increase or reduce the amount saved in year 1.” Explain this statement, using the concepts of income and ...With an excise tax of $ 0.20 per six-pack, Kristine purchases three six- packs of Diet Coke per day. If the government eliminates the excise tax and, instead, requires Kristine to pay $ 0.60 per day as a lump-sum tax (the ...Landing fees at many airports are based on aircraft weight. However, these fees do not accurately measure the cost associated with a landing or takeoff. This is because the opportunity cost of a plane using a runway ...Define isoquant. What is measured on the axes of a diagram with isoquants? What is the relationship between the isoquant map and the production function?
Post your question