Final answer:
The statement is true; to be a first mover, a firm must have significant resources for research and development and the capability to quickly bring innovative products to market to gain a temporary competitive advantage.
Step-by-step explanation:
To be considered a first mover, a firm must indeed have substantial resources available to invest in research and development (R&D), in addition to the ability to produce and market innovative products swiftly and successfully. Investing in innovation is crucial because it can provide a firm with a temporary competitive advantage, allowing it to earn above-normal profits.
The R&D process can be costly and time-consuming, and its outcomes are uncertain. For instance, creating a new technology can take years of development, as illustrated by the University of Minnesota's long-term project to breed a new variety of apple that took decades to reach the market. Finally, while R&D can lead to innovation that underpins a first-mover advantage, competitors can, eventually, produce similar or improved products, often at a lower cost after patent protections expire, illustrating the importance of ongoing innovation.