What are the advantages and disadvantages of being a first mover in an industry

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What are the advantages and disadvantages of being a first mover in an industry

What are the advantages and disadvantages of being a first mover in an industry? Give some real life examples of first mover and late mover firms. Were they successful?
120 words 
ONLY Source: Pg. 243 of Textbook (attached)
Due: 9/26

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