In the Long Run, If Price Is Greater Than Average

question 5

Multiple Choice

In the long run, if price is greater than average total cost in an industry, then

• A)some firms leave the industry.
• B)some firms are attracted to the industry.
• C)all firms leave the industry.
• D)there is no incentive for any firm to enter or leave the industry.
• E)the industry disappears.

Comprehend the limitations and applications of the BCG matrix in strategic planning.

Recognize the importance of product hierarchy in customer loyalty and product strategy.

Grasp the characteristics and strategic implications of different categories within the BCG matrix.

Identify the role of portfolio analysis in corporate strategy.

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Definitions:

Gender Revolution

Significant changes in gender roles and expectations, challenging traditional norms and leading to greater gender equality.

Global Division

The differentiation or classification of the world into distinct political, economic, or cultural regions with varying levels of development, wealth, and power.

Gendered Component

Aspects of society or culture that are influenced by or specifically relate to the differences between genders.

Cheapest Supply

The lowest cost option available in the marketplace for goods or services.