Network goods often foster a great deal of competition because firms wish to

Name: Network goods often foster a great deal of competition because firms wish to
Brand: Quizplus
Rating: 4.8 (51 reviews)

Question

Quizplus · Accepted Answer

Network goods often foster a great deal of competition because firms wish to become the industry standard. Achieving this status can lead to significant market power and customer lock-in, as users tend to gravitate towards products that others are using to ensure compatibility and benefit from network effects.

Network Goods Often Foster a Great Deal of Competition Because