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In the control process, if employees are constantly NOT meeting their sales quotas, what managerial action may be warranted?
Competitive Industry
An industry characterized by many firms offering similar or slightly differentiated products, leading to a high degree of competition and typically lower prices.
Increasing-cost Industry
An industry in which the costs of production increase as the industry expands, often due to limitations in resources or factors of production.
Long-run Supply Curve
A graphical representation showing the relationship between price and quantity supplied over a longer period, when all inputs can be varied.
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