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Economics (a) What are the 3 main characteristics of a platform business and traditional business? (6 marks) (b) List the participant/customer from (i) to (vi) in the column of subsidybased and servicebased for the following platform firms. (6 marks) 2) Hall of America (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)