Switching costs are those costs that consumers must bear to switch from the products offered by one established company to the products offered by another established company.
Correct Answer:
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Q1: Absolute cost advantage is enjoyed by incumbents
Q3: Michael Porter argues that the stronger each
Q4: The bargaining power of suppliers is the
Q5: The bargaining power of buyers is the
Q6: The starting point of strategy formulation is
Q7: Once the boundaries of an industry have
Q8: Opportunities arise when a company can take
Q9: Economies of scale arise when unit costs
Q10: Exit barriers are the economic, strategic, and
Q11: A company's closest competitors, its rivals are
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