Which of the Following Is a Competitive Benefit Experienced by the First

question 85

Multiple Choice

Which of the following is a competitive benefit experienced by the first mover firm in an industry?

• A) The first mover will be able to achieve a less steep learning curve.
• B) The first mover will be able to reduce the switching costs.
• C) The first mover will not have to patent its products or technology.
• D) The first mover will be able to reduce costs through economies of scale.

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Definitions:

Zimbardo Experiment

A psychological study conducted by Philip Zimbardo in 1971 to investigate the effects of perceived power, focusing on the struggle between prisoners and prison guards in a simulated environment.

Halo Effect

A cognitive bias where one's overall impression of a person influences how we feel and think about their character.

Attracted

The state or condition of being drawn to or interested in something or someone, often in a romantic or sexual manner.

Proximity

The physical closeness or nearness of objects, individuals, or concepts, often influencing relationships, interactions, and perceptions.