Potential Entrants Are More Likely to Be Deterred from Actually

question 109

Multiple Choice

Potential entrants are more likely to be deterred from actually entering an industry when

• A) incumbent firms have previously been aggressive in defending their market positions against entry.
• B) incumbent firms are complacent.
• C) buyers are not particularly price sensitive and the industry already contains a dozen or more rivals.
• D) the relative cost positions of incumbent firms are about the same, such that no one incumbent has a meaningful cost advantage.
• E) buyer switching costs are moderately low because of strong product differentiation among incumbent firms.

Identify the enforceability and effect of anti-assignment clauses in contracts.

Distinguish between the legal treatments of assignable and non-assignable contract rights.

Understand the implications of the "American rule" regarding the rights of assignees.

Comprehend the conditions under which a delegation of duties is valid or void.

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Definitions:

Substantial Experience

Having a significant amount of knowledge, expertise, or practice in a particular area or field.

Power Equalization

Efforts or processes to balance power among parties, typically in negotiations or conflicts, to ensure fairness.

Employed

The state of being engaged in work or having a job.

Gain Advantage

The process of obtaining a superior position or achieving benefits over others, often through strategic actions or decisions.