A Hybrid ________ Firm Needs to Stay Technologically Competitive but Tends

question 2

Multiple Choice

A hybrid ________ firm needs to stay technologically competitive but tends to allow others to demonstrate solid demand in new arenas before it responds.

• A)defender
• B)laggard
• C)prospector
• D)contingent
• E)analyzer

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Definitions:

Total Product

The total output of goods or services produced by a firm or economy, typically measured over a specific period.

Profit-Maximizing

The process or strategy of adjusting production and pricing to achieve the highest possible profit based on costs and market demand.

Derived Demand

is the demand for a product or service that arises from the demand for another product or service, such as the demand for steel being driven by the demand for cars.

Capital Demand

The desire or need for capital goods, such as machinery and tools, that are used to produce other goods and services.