First Movers Often Fail Because

question 59

Multiple Choice

First movers often fail because:

• A) their competitive advantage is unfair.
• B) they lack complementary resources needed to sustain their advantages.
• C) they are operating in a perfect market.
• D) they fail to leverage their competitive assets.

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Definitions:

Marginal Utilities

The added enjoyment or usefulness a consumer gets upon consuming an extra unit of a good or service.

Marginal Utility

The additional gain in enjoyment or utility that an individual experiences from consuming one more unit of a good or service.

Indifference Curve

A graphical representation in economics of all combinations of goods that provide a consumer with the same level of satisfaction or utility.

Budget Constraint

The cap on the selection of consumption options accessible to a consumer, influenced by their income level and the pricing of commodities.