What is the fill rate under this policy?

The present value of a lottery received as an annuity due is less than the present value of a lottery whose cash flows are received as an ordinary annuity

(Assume that the interest rate used to discount the cash flows is positive and equal between the two choices and that the magnitude and number of cash flows are equal for the two choices. Only the timing of the cash flows differs between the two choices.) Indicate whether the statement is true or false.

Why would a firm with innovative capabilities generally choose the differentiation

approach? What will be an ideal response?