Which of the following is NOT true of high-technology industries? Select one: a. Later entrants can avoid the mistakes made by first movers. b. First movers have an advantage because their customers avoid switching costs. c. First movers that create a revolutionary product are in a monopoly position. d. First movers run the risk of building the wrong resources and capabilities. e. First movers have higher pioneering costs than later entrants. Clear my choice

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.