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:

Fixed Expenses

Costs that do not change in total regardless of changes in the level of business activity.

Financial Advantage

The benefit or edge obtained by a business or individual that puts them in a better financial position than others.

Variable Costs

Costs that shift in direct correlation with production or sales figures, notably direct labor and raw materials.

Allocated General Overhead

involves distributing indirect costs across different departments or products to reflect their share of resources used.