On average each year, about 7 percent of all firms in the United States are new, and 1 percent go out of business.According to the text, which of the following is not true?

Question

Quizplus · Accepted Answer

The text does not state that being a first mover is never a reason for failure. It only provides information on the percentages of new firms and firms going out of business, and discusses factors such as luck, quality, size, and globalization that may impact a firm's performance.

On Average Each Year, About 7 Percent of All Firms