Multipoint Competition Occurs When

question 9

Multiple Choice

Multipoint competition occurs when:

• A) firms have multiple retail outlets.
• B) firms have multiple products in their primary industry.
• C) diversified firms compete against each other in several markets.
• D) firms have diversified portfolios of companies.

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Definitions:

Representativeness Heuristic

A mental shortcut where the likelihood of an object belonging to a category is judged based on how typical the object seems of that category.

Ease of Retrieval Effect

A cognitive bias where people judge an event to be more likely or frequent if examples of it come to mind easily.

Primacy Effect

The tendency to remember information at the beginning of a list better than the information that follows.

Upward Counterfactual

involves imagining or thinking about how a situation could have turned out better than it did, often leading to feelings of regret.