Question: 7. (20 points) Often there are long lags between the first appearance of a new technology and when it begins to significantly affect economic

7. (20 points) Often there are long lags between the first appearance

7. (20 points) Often there are long lags between the first appearance of a new technology and when it begins to significantly affect economic activity. Examples include the lengthy delays in the widespread adoption of electric vehicles since first introduced. Use two concepts introduced in class to explain the reason for these long delays?

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