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Consider the market for a particular brand of watch, illustrated in the figure to the right. Suppose there are network externalities in this market such
Consider the market for a particular brand of watch, illustrated in the figure to the right. Suppose there are network externalities in this market such that the quantity of the good demanded falls in response to the growth of purchases by other individuals (as indicated by the demand curve "Demand" in the figure). Suppose that the price is initially $ where the quantity demanded is watches per month. Part 2 If the price of this brand of watch falls to $, demand will increase to enter your response here watches. (Enter your response using an integer.)
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