The Existence of First Mover Advantage and the Fact That

question 14

Multiple Choice

The existence of first mover advantage and the fact that the market is small relative to the minimum efficient scale of production:

• A)Are two market imperfections that impact the ability to sustain competitive advantage
• B)Are two market imperfections that impact the ability to sustain competitive advantage through preemption
• C)Are general attributes of any market
• D)Are unrelated

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Definitions:

Cognitive Dissonance

A psychological discomfort experienced when holding two or more conflicting cognitions (beliefs, attitudes, or values).

Making Attributions

The process of explaining one's own behavior and the behavior of others by assigning causes to these behaviors.

Dissonance Levels

A term used to describe the amount of conflict or inconsistency between an individual's beliefs, attitudes, or behaviors, leading to a state of psychological discomfort.

Initial Impressions

The first and quick opinions we form about others upon meeting them, which are often based on their appearance and behavior.