The Larger the Number of Firms in an Industry

question 182

Multiple Choice

The larger the number of firms in an industry,

• A)the easier it is to implicitly collude to fix prices.
• B)the more intense the rivalry among firms.
• C)the greater the need for a price enforcement mechanism.
• D)the larger the potential number of market segments.

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Definitions:

Actual Performance

The real, observed output or results of an individual’s or team’s work activities, as opposed to expected or theoretical performance.

Performance Expectations

The standards and criteria set by an organization or manager used to evaluate an employee's job performance.

Performance Deviations

Differences between actual performance and planned or expected outcomes, indicating areas that may require adjustments or improvements.

Corrective Action

An action taken to rectify or eliminate the cause of a detected non-conformance, defect, or other undesirable situation to prevent recurrence.