Rivalry Among Competing Sellers Tends to Be More Intense When

question 54

Multiple Choice

Rivalry among competing sellers tends to be more intense when:

• A) competitors vary in size and capability,such that smaller firms must really struggle to even survive.
• B) buyer switching costs are high and market demand is growing rapidly.
• C) several competitors are under pressure to improve their market share or profitability and launch fresh strategic initiatives to attract more buyers and bolster their business position.
• D) the products of rival sellers are strongly differentiated.
• E) All of these.

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Definitions:

Actual Authority

The specific power given to an agent by a principal, derived from their agreement and can be express or implied based on their actions.

Apparent Authority

The perception by a third party that an agent has the authority to act on behalf of a principal, even if such authority has not been explicitly or implicitly granted.

Principal Liable

Refers to the legal responsibility of the principal party in a relationship (such as an employer) for certain actions of their agents or employees under the doctrine of vicarious liability.

Apparent Authority

The impression given to third parties that an agent is authorized to act on behalf of a principal, even if such authority has not been formally granted.