. Which of the following would lead to the lowest degree of industry price competition?

a. Low Industry Concentration, Low Legal Barriers to Entry, Low Product Differentiation b. Few Barriers to Entry, High First Mover Advantage, High Product Differentiation c. Low Industry Concentration, Low Distribution Access, Low Customer Switching Costs d. High Industry Concentration, High Fixed-Variable Cost Ratio, Hi product differentiation e. Supply < Demand, Many Legal Barriers to Entry, Steep Industry Learning Curves