The statement " according to authors murphy and murphy, a 2% increase in customer retention has the same net effect on a business as decreasing costs by 10%" is True.
What do you mean by network effect?
The phenomenon known as the "network effect" describes how more individuals using a commodity or service results in a rise in value. An illustration of the network effect is the internet. Since the internet was first only useful to the military and a small number of researchers, there weren't many users. The network effect can improve the experience as more people participate, but it can also entice new users who want to take advantage of the network to join.
Social media in general exhibits network effects. For instance, Twiitterr becomes increasingly beneficial to the general public when more users publish links and other information on the site.
To learn more about a network effect, use the link given
https://brainly.com/question/9082600
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