How Does a Network Externality Serve as a Barrier to Entry

question 121

Essay

How does a network externality serve as a barrier to entry? Is this barrier surmountable? Explain.

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Definitions:

Public Relations

An approach to communication focused on establishing rewarding relationships between organizations and their respective publics.

Social Media

Digital platforms and technologies that enable individuals to create, share, or exchange information, ideas, and pictures/videos in virtual communities and networks.

Traditional Media

Various forms of mass communication that existed before the advent of digital media, including newspapers, magazines, television, and radio.

Roots

The original or fundamental source of something, often referring to the origins of a cultural or historical phenomenon.