A Firm Will Tend to Follow Competitors When They Increase

question 18

True/False

A firm will tend to follow competitors when they increase spending on R&D but will not follow them when they decrease such spending.

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Definitions:

Inputs and Outputs

Inputs are the resources (such as labor, raw materials, and energy) used in the production process, while outputs are the products or services generated.

Competitive Strategy

Approaches that a company takes to attract customers, withstand competitive pressures, and strengthen an organization’s market position.

Customer Needs

The wants and requirements expressed by consumers, which guide product development and market strategies.

Efferent Division

The part of the nervous system that conveys signals from the central nervous system to effector organs like muscles and glands.