Factors That Drive Competition Include

question 133

Multiple Choice

factors that drive competition include

• A) monopolistic competition, cross-market competition, entry, and the bargaining power of buyers and suppliers.
• B) cross-market competition, entry, the bargaining power of buyers and suppliers, and substitution possibilities.
• C) monopolistic competition, cross-market competition, bargaining power of buyers and suppliers, existing rivalries.
• D) entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities.
• E) cross-market competition, entry, bargaining power of buyers and suppliers, and federal regulation.

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Definitions:

Ultimatum Games

A type of game in experimental economics where two players interact to decide how to divide a sum of money; one proposes the split, and the other accepts or rejects it.

Endowment Effect

A psychological phenomenon in which people assign higher value to things merely because they own them.

Loss Aversion

In prospect theory, the property of most people’s preferences that the pain generated by losses feels substantially more intense than the pleasure generated by gains.