A Firm That Considers Costs and Revenue Secondary to Competitors

question 187

True/False

A firm that considers costs and revenue secondary to competitors' prices when setting its own prices is using a competition-based pricing strategy.

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Definitions:

Inner Cell Mass

The mass of cells inside the embryonic blastocyst, from which the embryo and eventually the fetus develop.

Endoderm

Cells of the inner cell mass of the embryo that develop into the digestive system and the lungs.

Ectoderm

Cells of the inner cell mass of the embryo that develop into the outer surface of the skin, the nails, part of the teeth, the lens of the eye, the inner ear, and the central nervous system.

Embryonic Period

The period that extends from the time the organism becomes attached to the uterus until the end of the 8th week of pregnancy, when all the major organs have taken primitive shape.