... low cost entry and exit, and firms in such industries can earn a competitive advantage Oligopoly is characterized by a small number of firms, homogeneous products, and costly entry and exit; firms ... a competitive advantage Finally, monopoly is characterized by one firm and costly entry Firms in such industries can earn a competitive advantage Describe the difference between a competitor and ... possible for a firm to be a complementor for some firms and competitors for others and it is also possible for a single firm to be both a competitor and a complementor, especially in industries...