Iceberg storage, a leading hard drive manufacturer, recently filed for bankruptcy. While most of Iceberg's competitors were shifting away from physical data storage devices toward online cloud storage services, Iceberg invested most of its retained earnings in the effort to improve its hard drives. Once the hard-drive market drastically declined, Iceberg Storage was unable to capitalize on the new technology. Which of the following does this scenario best illustrate?a. causal ambiguity.
b. knowledge diffusion.
c. social complexity.
d. path dependence.

d. path dependence

Explanation:

Based on the scenario being described within the question it can be said that this is best illustrating the concept of path dependence. This term refers to how the set of decisions that individuals face is limited due to decisions that they have made in the past that will influence them, even though the past circumstances may no longer be relevant. As is the case in this scenario as Iceberg storage decided to stick with physical devices because it is what they did in the past and it worked out for them, but since times changed it did not work out this time.