Disruptive Technologies Are Tricky

question 15

Multiple Choice

Disruptive technologies are tricky.Firms that invent disruptive technologies as ______________________________________________________________.

• A) as "first movers" always benefit if they lack the resources to exploit the technology or fail to see the opportunity.
• B) as "first agents" do not always benefit if they lack the resources to exploit the technology or fail to see the opportunity.
• C) as "first movers" do not always benefit if they lack the resources to exploit the technology or fail to see the opportunity.
• D) as "first agents" always benefit if they lack the resources to exploit the technology or fail to see the opportunity.

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Definitions:

Total Revenue

The overall amount of money generated by a firm from selling its goods or services.

Marginal Cost

Marginal cost is the increase in total cost that arises from producing one additional unit of a good or service.

Lawn-mowing

The act of cutting grass to a uniform length, often done as routine maintenance for residential and commercial landscapes.

Perfectly Competitive

Describes a market structure where there are many buyers and sellers, all selling homogeneous products, with no single buyer or seller able to influence the market price.