Which of the Following Is the Definition of "Competitors

question 23

Multiple Choice

Which of the following is the definition of "competitors?"

• A)Firms that manufacture similar products
• B)Firms located in geographic proximity to each other
• C)Firms that sell products to the same group of buyers
• D)Firms whose strategic choices directly affect one another
• E)Firms that purchase factors from the same suppliers

---

Definitions:

Neoclassical Economics

A branch of economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, emphasizing rational individuals and efficient market outcomes.

Behavioral Economics

Behavioral economics studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Neoclassical Economics

A mainstream approach to economics that focuses on the determination of goods, outputs, and income distributions in markets through supply and demand.

Behavioral Economics

A field of economics that analyzes the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions.