Which of the following best describes first-mover advantage?
A) A firm can enjoy benefits like efficient cost structures
B) A firm can enjoy large profits and a monopoly status
C) A firm can exploit economies of scale with no competitors
D) All of the above

Question

Quizplus · Accepted Answer

First-mover advantage refers to the benefits a company gains by being the first to enter a new market or develop a new product or service. These benefits can include efficient cost structures due to early optimization, large profits and potentially a monopoly status before competitors enter the market, and the ability to exploit economies of scale without competition.

Which of the Following Best Describes First-Mover Advantage