True or False? 1. A firm always operates in a single, distinct industry. 2. All industries follow the stages of the industry life cycle model. 3. The likelihood that new firms will enter an industry is contingent on the extent to which barriers to entry have been erected. 4. Higher capital requirements for entering an industry ultimately raise average profitability within that industry. 5. Substitute products are produced by competitors in the same industry. 6. A key limitation of Porter's five forces model is its reliance on resource-based theory