Suppose that the incumbent and the entrant in the long-distance phone call market compete in prices (rates). Then, _____________ _____________ _.

An economic network is a combination of individuals, groups, or countries who pool resources and competitive advantages to benefit each other. Common types of economic networks are joint ventures between two or more companies or partnerships between corporations.

Examples of Network effects (network economies of scale?):
Social media platforms (e.g. Facebook, Instagram)
Online marketplaces (e.g. Amazon, eBay)
Communication platforms (e.g. WhatsApp, Zoom)
Payment platforms (e.g. Visa, PayPal)
Operating systems (e.g. Windows, iOS)
Navigation apps (e.g. Google Maps, Waze)