1. Consider a market with low barriers to entry. What is the effect of above-normal economic profit by the firms in the market on entry into the market?
2. Consider a market in which innovation is readily imitated by competitors. What is the effect of a profitable innovation on imitation by competitors?
3. Interpret the meaning of the statement, "a mature brand in a hypercompetitive market."
4. Why is Starbucks closing 400 of its stores for its long-term growth? Explain. Go here for more info:https://bit.ly/2Z02P8W