In an Industry, the Profits Earned by Firms Are Determined

question 29

Multiple Choice

In an industry, the profits earned by firms are determined by

• A)the overall economic situation, and porter's five forces of competition.
• B)the degree of concentration of the industry.
• C)the existence of barriers to entry in the industry.
• D)the value of the product for customers, the intensity of competition, and the relative bargaining powers of producers, their suppliers and their buyers.

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