Because firms have to operate in an industry to gain experience,from this perspective,new firms are

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New firms lack experience in the industry, which puts them at a disadvantage compared to established firms that have already gained knowledge and expertise through years of operation. Established firms have had the opportunity to learn from their mistakes, implement improvements, and build brand recognition and customer loyalty. As a result, they have an advantage over new firms.

Because Firms Have to Operate in an Industry to Gain