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.

---

Definitions:

Impulses

Sudden desires or urges that prompt an individual to act in a particular way, often without premeditation.

Dendrites

Branch-like extensions of neurons that receive impulses and conduct signals towards the cell body.

Tree Branches

Extensions of a tree's main trunk, growing outward and upward, which support leaves, flowers, and fruits.

Severe Dementia

A significant deterioration in cognitive function, affecting memory, thinking, orientation, comprehension, calculation, learning capacity, language, and judgment.