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how does the industry benefit

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. Describe standardization, format wars, and how standardization can lead to a format war. 
2. Once standardization occurs, how does the industry benefit? 
3. During a format war, describe how competition occurs and how a price war can take shape. 
4. Define first and second movers. How do these two entities interact within and industry, and who learns what as the industry takes shape? 

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