Enter High or Low in the Blank

question 70

Short Answer

Enter high or low in the blank:
The threat of substitute products or services is _____ when there are many alternatives to a product or service and low when there are few alternatives from which to choose.

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Definitions:

Marginal Revenue Curve

A graphical representation that shows how additional revenue varies with changes in output.

Marginal Revenue

Enhanced earnings from selling an additional unit of a product or service.

Prefabricated Garages

Structures for vehicle storage that are manufactured off-site in standard sections and then transported and assembled at the final location.

Total Revenue

The total amount of money a company receives from selling its goods or services, before any expenses are deducted.