Hyper-Competition Implies

question 23

Multiple Choice

Hyper-competition implies:

• A)Rapid changes in industries and a general trend of concentration
• B)Strong competition and high rate of start-up failure due to rapid change experienced by high-tech industries
• C)No firm can ever achieve a competitive advantage
• D)Strong competition and rapid changes in firms' competitive advantages

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Definitions:

Selling Price

The amount a buyer pays to purchase a product or service from a seller.

Variable Expense

Costs that vary depending on a company's production volume or activity level.

Target Profit

The anticipated profit figure set by a business for a given period, often guiding pricing and production decisions.

Monthly Fixed Expense

Expenses that do not vary with production volume or business activity level, incurred on a monthly basis.