In an opinion column in the New York Times, economists Luigi Zingales and Guy Rolnik of the
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In an opinion column in the New York Times, economists Luigi Zingales and Guy Rolnik of the University of Chicago write, “Google has about a 90 percent market share in searches, while Facebook has a penetration of about 89 percent of Internet users. Economists have a fancy name for this phenomenon: ‘network externalities.’” Briefly explain how Google and Facebook may have benefitted from network externalities.
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