Rivalry Within an Industry Will Be High If Firms Compete

question 54

True/False

Rivalry within an industry will be high if firms compete mainly on price.

---

Definitions:

Genetically Determined

Attributes or traits that are influenced by genes inherited from an organism's parents, determining characteristics such as eye color, blood type, and susceptibility to certain diseases.

Imprinting

Learning that can occur only during a specific interval in an animal’s life.

Learning

The process by which new knowledge or skills are acquired.

Eusocial Animals

Animals that live in complex social structures, including cooperative care of the young, division of labor, and, often, overlapping generations within a colony.