Matching -Renewal Strategy

question 37

Multiple Choice

Matching
-Renewal Strategy

• A)increasing revenue, profits, markets share, or territories
• B)addresses declining performance through retrenchment and regrowth
• C)adds new kinds of goods, services or business units
• D)provides goods/services that are significantly different from the competition
• E)focus is on processes, products, and services that will sustain it over the long term
• F)concentrates on a specific target market and may use cost leadership and/or differentiation strategies
• G)reduces production costs and therefore consumer price

Recognize the conditions under which monopolistically competitive firms have excess capacity.

Describe the demand curve faced by a monopolistically competitive firm.

Assess the potential for government intervention in monopolistically competitive markets to correct inefficiencies.

Understand the concept of excess capacity in monopolistically competitive firms.

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Definitions:

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Empathy

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A multidisciplinary field concerning the safety, health, and welfare of people at their workplace.