Barcain Credit Corp. wants to earn an effective annual return (EAR) on its consumer loans of 16 percent per year. If the bank uses daily compounding on its loans, what APR is the bank required by law

Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.