Until 1992,WordPerfect® produced the dominant word processing system for the personal computer [PC] platform.After 1992,Microsoft's Word for Windows® dominated the PC platform,largely by offering consumers a better program at a much lower price.This example illustrates:
A)the dynamic view of a natural monopoly.
B)the need for government regulation of a monopoly market.
C)how a lack of competition produces instability in markets.
D)the inefficiency of a monopoly in the word processing market.

Question

Quizplus · Accepted Answer

The example illustrates the dynamic view of a natural monopoly, where market dominance can shift due to innovation and competition, showing that monopolies may not be permanent if there are no barriers to entry for new competitors.

Until 1992,WordPerfect® Produced the Dominant Word Processing System for the Personal