Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3) Carly Rae Jepsen released her new album on the same night that Taylor Swift released hers. Taylor Swift's album got most of the attention

image text in transcribed
3) Carly Rae Jepsen released her new album on the same night that Taylor Swift released hers. Taylor Swift's album got most of the attention - it was immediately written about in major publications, teaser clips for the music videos were shown on Thursday Night Football, and the album was streamed 185 million times on Spotify in one day. Journalists have a limited amount of time to write and fans have a limited amount of time to listen to music, so Carly Rae Jepsen's album received less fanfare than it would have received if it had been released a week earlier. This is an example of which type of externality? A) A common resource problem B) Intergenerational externalities C) Network effects D) Thick market externalities 4) Continuing with the previous question, suppose that some of the 185 million people who streamed Taylor Swift's album Midnights on Spotify were not regular Spotify users. They logged on just to listen to Midnights, but once on the app, they started listening to more music by lesser-known artists. Had these people not logged on to Spotify for Midnights, they never would have heard of these artists and never would have listened to their music. For the lesser-known artists, this is an example of A) A public good B) A positive externality C) A negative externality

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Basic Statistics

Authors: Charles Henry Brase, Corrinne Pellillo Brase

6th Edition

978-1133525097, 1133525091, 1111827028, 978-1133110316, 1133110312, 978-1111827021

Students also viewed these Economics questions

Question

Find the eigen functions and eigen values of d2/dx2 + 2 d/dx.

Answered: 1 week ago

Question

What is one of the skills required for independent learning?Explain

Answered: 1 week ago