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

Low Industry Concentration, Low Legal Barriers to Entry, Low Product Differentiation

Few Exit Barriers, High First Mover Advantage, High Product Differentiation

Low Industry Concentration, Low Distribution Access, Low Customer Switching Costs

High Industry Concentration, High Fixed-Variable Cost Ratio, Hi product differentiation

Supply > Demand, High Legal Barriers to Entry, Steep Industry Learning Curves