Question: Answer all questions. Each response should not exceed 50 words. 1. What is the best time for a firm to develop its business model? 2.

Answer all questions. Each response should not exceed 50 words. 1. What is the best time for a firm to develop its business model? 2. Why do most entrepreneurial firms initially choose to compete within a narrow target market? 3. What is a revenue stream and why is it so important to a firm's short- and long-term success? 4. How do fixed costs differ from variable costs? 2

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