The following table shows Quinton's preference ranking for different brands of boots in both 2011 and 2012.His preferences are ranked from 1 to 4,where 4 is his most-preferred brand and 1 is his least-preferred brand.In 2011,one of Quinton's 10 close friends owned a pair of UGG boots.In 2012,six of Quinton's 11 close friends owned a pair of UGG boots.Based on this information,which effect would likely explain the change in Quinton's preference ranking for UGG boots from 2011 to 2012? 
A) social norming
B) superiority
C) network
D) friendship
E) consumer preference
Correct Answer:
Verified
Q106: Motorola and Apple are two large competitors
Q110: If attorneys can prove beyond a reasonable
Q135: Firms with many customers that find it
Q136: A _ effect occurs when a buyer's
Q138: If network externalities exist in an industry,the
Q139: When customers face significant _ costs,the demand
Q141: How does an oligopoly differ from other
Q143: Although antitrust laws exist in the United
Q147: Terrance's cell phone carrier would charge him
Q155: How do economists measure and interpret the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents