Technological lock-in:
A)occurs when standardization on a technology blocks the adoption of more efficient technologies.
B)occurs when network externalities are absent.
C)increases the efficiency with which technology is used.
D)is no longer possible because of the development of network externalities.

Question

Quizplus · Accepted Answer

Technological lock-in happens when a particular technology becomes the standard, and this widespread adoption makes it difficult for newer, potentially more efficient technologies to be adopted. This is because the cost of switching to a new technology can be high for users who have already invested in the existing standard.

Technological Lock-In