Which Statement Is TRUE Regarding Network Goods

question 118

Multiple Choice

Which statement is TRUE regarding network goods?

• A) Network goods are usually sold by monopolies or oligopolies.
• B) Microsoft Word has always been the dominant word processing software
• C) Microsoft Excel has always been the dominate spreadsheet software.
• D) All of the answers are correct.

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Definitions:

Behavioural Decision Model

An approach to understanding decision-making, focusing on how individuals interpret and respond to information based on psychological and behavioural factors.

Bounded Rationality

A concept that decision-makers are limited in their decision-making capabilities by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.

Cognitive Limitations

Cognitive limitations are the boundaries of human brain’s capacity to learn, remember, and make rational decisions.

Ambiguous Problems

Challenges or issues lacking clarity and that are open to multiple interpretations or solutions.