Which of the following statements is true about the role of technology in a firm's profitability?
A)Technological change within an industry does not affect a firm's landscape.
B)Technological change can often lower barriers to entry.
C)Incorporating new technology early creates barriers for new entrants.
D)Firms who are late to adopt new technologies benefit more than early adopters.

Question

Quizplus · Accepted Answer

Technological change can lower barriers to entry, as new entrants may have access to the same technology as established firms without incurring the same costs. This can increase competition and potentially decrease profitability for firms who are not able to differentiate themselves in other ways.

Which of the Following Statements Is True About the Role