When Any Two Firms Have Both a High Degree of Market

question 26

Multiple Choice

When any two firms have both a high degree of market commonality and highly similar resources,a ________ threat is present.

• A) weaker competitive
• B) successful marketing
• C) stronger competitive
• D) stronger marketing

---

Definitions:

Inferior Good

A good for which an increase in income reduces the quantity demanded

Good A

A placeholder term typically used in economic models to represent a generic item or service in the market.

Income Falls

A situation where an individual's or group's earnings decrease over a period of time.

Normal Good

A good for which an increase in income raises the quantity demanded.