Question: (a)What does it mean to be the first mover in an industry? What are the advantages of being the first mover in an industry? Give

(a)What does it mean to be the first mover in an industry? What are the advantages of being the first mover in an industry? Give a real life example of a first mover firm and describe how successful it was.

(b)Analyze the advantages of being the late mover in an industry. Give a real life example of a late mover firm and describe how successful it was.

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