In: Economics
1. Can you give an example of a firm that benefited from being a “first mover” in their industry? ... (Briefly explain)
2. How about an example of a firm that was a "late-mover" (or perhaps even better, a "fast-follower"?) ... (Briefly explain)
3. What is an example of a product or industry in the growth stage of its life cycle? How long do you think the growth stage will last?