Which of the Following Is True of Competition in Product-Markets

question 61

Multiple Choice

Which of the following is true of competition in product-markets?

• A) The cost of labor does not affect the product market as it is an insignificant part of an organization's costs.
• B) Product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price.
• C) Organizations in a product market are competing to serve the same customers.
• D) Product markets place a lower limit on the pay an organization will offer its employees.
• E) Organizations must increase the cost of labor every quarter.