(a) What are the 3 main characteristics of a platform business and traditional business? (6 marks) (b) List the participant/customer from (1) to (vi) in the column of subsidy-based and service-based for the following platform firms. (6 marks) Multisided Firms Category Subsidy- Service- based based 1) Credit Card Business/Finance (1) (ii) 2) Mall of America Retail (iii) (iv) 3) CNN.com News/Information (v) (vi) (c) Describe the likely economies of scale for platform business and traditional business. (6 marks) (d) In the platform business, why network effects are considered more important than virality? Explain. (7 marks)