Identify a true statement about competition among firms within an industry.
A)Moves and countermoves do not affect the profit margins of most firms in an industry.
B)Firms' moves and countermoves primarily take the form of sales and promotions.
C)Each move by a firm provokes countermoves among competitors, resulting in a constantly shifting competitive landscape.
D)Competition among firms in an industry is responsible for a significant reduction in motivation toward profitability.

Question

Quizplus · Accepted Answer

Competition among firms within an industry typically involves constant moves and countermoves among competitors, resulting in a shifting competitive landscape. This can include pricing strategies, product offerings, advertising campaigns, and other tactics aimed at gaining a competitive advantage. The ultimate goal for each firm is to capture a larger share of the market and generate higher profits.

Identify a True Statement About Competition Among Firms Within an Industry