_____ Is a Measure of the Intensity of Competitive Behavior

question 67

Multiple Choice

_____ is a measure of the intensity of competitive behavior among companies in an industry.

• A) Bargaining power of firms
• B) Character of the rivalry
• C) Threat of new entrants
• D) Threat of substitute products

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Definitions:

Labor Rate Variance

The difference between the actual labor cost and the standard labor cost expected for the actual production level, reflecting inefficiencies in labor use.

Direct Labor-Hours

A measure of the total hours worked by employees who are directly involved in the production process, used in costing and productivity analysis.

Variable Manufacturing Overhead

Costs in production that vary with the level of output, such as utilities or materials, but are not directly tied to any specific product.

Variable Overhead

Costs of production that fluctuate with the level of output, including items such as utilities and materials that are not directly linked to a single product.