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Managers of Operations in Services and the Production Manager in a Manufacturing

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Managers of operations in services and the production manager in a manufacturing plant are in line positions,meaning they are responsible for


Definitions:

Competitive Price-searcher

A market participant who actively compares prices among competitors to find the best possible deal, often in markets with imperfect competition.

Short-run Losses

Financial losses that a firm experiences within a limited time period, usually due to fixed costs and market conditions.

Industry Entry

The process or act of starting a new venture or entering a market as a new competitor.

Competitive Price-searcher

A market participant who actively compares prices among different suppliers to find the best deal.

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