Examlex

Solved

One of the Competitive Dimensions That Form the Competitive Position

question 48

True/False

One of the competitive dimensions that form the competitive position of a company when planning their strategies is cost.


Definitions:

Marginal Revenue

The boost in revenue achieved by selling an additional unit of a good or service.

Price Taker

A buyer or seller that is unable to influence the market price of a product or service.

Marginal Revenue Curve

A graphical representation showing how the revenue from selling one more unit of a good or service changes as production volume changes.

Price-searcher Firm

A company that has the ability to set the price for its products because it does not face perfect competition.

Related Questions