Which Statement Is NOT a Feature of Markets for Network

question 89

Multiple Choice

Which statement is NOT a feature of markets for network goods?

• A) Network goods are usually sold by monopolies or oligopolies.
• B) Standard wars are common in establishing network goods.
• C) Competition in the market for network goods is "in the market" instead of "for the market."
• D) When networks are important, the "best" product may not always win.

---

Definitions:

Utility Schedule

A table or graph that shows the total utility or satisfaction that a consumer derives from consuming various quantities of a good or service.

Marginal Utility

The incremental utility or joy received when one more unit of a good or service is consumed.

Total Utility

The absolute gratification obtained through the intake of a certain quantity of products or services.

Marginal Utility

The additional satisfaction or benefit (utility) a consumer derives from consuming one additional unit of a good or service.