What is meant by first-mover advantage

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1. What is meant by "first-mover advantage"? Give an example of a gaming situation with a first-mover advantage.

2. What is a "strategic move"? How can the development of a certain kind of reputation be a strategic move?

3. Can the threat of a price war deter entry by potential competitors? What actions might a firm take to make this threat credible?

Reference no: EM13902451

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