An Owner of a Stable of Racehorses Has Been Earning

question 28

Multiple Choice

An owner of a stable of racehorses has been earning below-average returns for more than 15 years.To a colleague, he expressed his determination to stay in horse racing until he died because "racing is in my blood." This individual is probably still racing horses because of:

• A) high barriers to exit.
• B) high switching costs.
• C) high fixed costs.
• D) low levels of competitive rivalry.

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Definitions:

AIDS

Acquired Immune Deficiency Syndrome, a life-threatening condition caused by the human immunodeficiency virus (HIV), leading to a severely weakened immune system.

Necrophilia

A paraphilic disorder characterized by a sexual attraction to corpses.

Paraphilias

Sexual arousal from fantasies, behaviors, or urges involving nonhuman objects, the suffering of self or others, and/or nonconsenting persons.

Sexual Desire

The psychological urge or feeling of wanting to engage in sexual activities.