A person who has been using the wireless services of company A finds it costly and is aware of a new cellular phone company that offers lower cost services for the same quality of service that company A provides.However, because it has been with company A for a long time and is used to its features, he is unsure of giving it up. What kind of costs does this person have in mind?

MCQs on major topics and theories in the field of Industrial Organization. Topics include: Market structure analysis and the strategic behaviors of competing firms, including (but not limited to) product differentiation, collusion, price discrimination, pricing strategy, non-price discrimination (i.e. advertising), horizontal mergers, vertical integration, and vertical restraints.