Which of the Following Is the Best Response a Company

question 37

Multiple Choice

Which of the following is the best response a company can make to competitive threats?

• A)to find partners
• B)to ignore them
• C)continuous innovation
• D)an indirect attack
• E)a frontal attack

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Definitions:

Industry

A sector of the economy that involves the production and manufacturing of goods or the provision of services.

Long Run

A period during which all factors of production and costs are variable, in contrast with the short run where some costs are fixed.

Short Run

A period in economics during which at least one input, such as plant and equipment, is fixed, focusing on immediate effects of economic decisions.

Marginal Revenue

The additional income generated from the sale of one more unit of a product or service.