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Question
Which of the following statements is true of first movers relative to early followers and late entrants?
a. Cost of developing necessary production processes and complementary goods is lower for first movers.
b. First movers are in a better position to exploit buyer switching costs and also to reap increasing returns advantages.
c. First movers, being incumbents, have greater ability than later entrants to respond to changes in the industry environment and adopt newer production processes.
d. First movers fail to capture scarce resources such as key locations, government permits, access to distribution channels, and relationships with suppliers.
Answer
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