Asked by
katrina Ahmed
on Nov 05, 2024
Verified
The barrier to entry protecting a social site like Facebook is primarily
A) network effects.
B) economies of scale.
C) patents.
D) ownership of a scarce factor of production.
Network Effects
The phenomenon where a product or service becomes more valuable as more people use it.
Social Site
A website or platform where people can share their personal lives, opinions, or participate in networking activities.
- Investigate the influence of entry impediments on monopolistic markets and competitive dynamics.
- Analyze the impact of network effects and economies of scale as barriers to entry in specific markets.
Verified Answer
PP
Learning Objectives
- Investigate the influence of entry impediments on monopolistic markets and competitive dynamics.
- Analyze the impact of network effects and economies of scale as barriers to entry in specific markets.