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A firm's vertical differentiation determines where in its hierarchy the decision-making power is concentrated.
State Laws
Statutes and regulations enacted by state legislatures that govern matters not exclusively reserved to the federal government.
Federal Laws
Laws established by the national government of a country that apply throughout the country and override local and state laws.
Agents
Individuals or entities authorized to act on behalf of others in transactions or negotiations.
Employees
Individuals who work for another person or organization in return for compensation.
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