First movers in an industry often capture above-average profits but usually find it difficult to maintain early market share gains.
Answer the following statement true (T) or false (F)
False
First movers have several advantages. They often capture unusually high profits because there are no competitors to drive prices down. First movers that establish brand recognition are usually able to retain their image and hold on to the market share gained by being first. Generally, first movers have an advantage that can be sustained until the maturity phase of the industry life cycle.
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Sandoval needs to determine its year-end inventory. The warehouse contains 21,000 units, of which 3100 were damaged by flood and are not sellable. Another 2100 units were purchased from Markor Company, FOB shipping point, and are currently in transit. The company also consigns goods and has 4100 units at a consignee's location. How many units should Sandoval include in its year-end inventory?
A. 22,000 B. 30,300 C. 27,200 D. 24,100 E. 19,900
Under a commission system, salespeople have only one objective-make the sale.
Answer the following statement true (T) or false (F)
A contract may have to be in writing to be enforceable even if its performance is possible within a year.
Answer the following statement true (T) or false (F)
The effective interest rate generally is ________
A) higher on a loan if interest is paid at maturity B) lower if the loan is a discount loan C) higher if the loan is a discount loan D) not affected by whether the loan is a discount loan or a loan with interest paid at maturity