When a firm dominates a specific segment in an industry, it is well-placed to earn a higher level of profit than the average.

Name: When a firm dominates a specific segment in an industry, it is well-placed to earn a higher level of profit than the average.
Brand: Quizplus
Rating: 4.8 (31 reviews)

Question

Quizplus · Accepted Answer

When a firm dominates a specific segment in an industry, it can charge higher prices due to the lack of competition and increase its profit margins. Therefore, it is well-placed to earn a higher level of profit than the average.

When a Firm Dominates a Specific Segment in an Industry