Being the first to sell a particular good can give a firm advantages over other firms that sell similar products.What is the name given to these advantages?
A)first-mover
B)first come, first served
C)follow the leader
D)first to market

Question

Quizplus · Accepted Answer

First-mover advantages refer to the benefits that a firm derives from being the first to introduce a new product or service in the market. These advantages include brand recognition, customer loyalty, economies of scale, and the ability to set industry standards, which can create significant barriers to entry for competitors. Therefore, the best choice is A) first-mover.

Being the First to Sell a Particular Good Can Give