Which of the following is not a factor that

contributes to higher rivalry in an industry?

a. Numerous competitors

b. High fixed costs

c. Fast industry growth

d. Low switching costs for buyers


 The concept that describes firms possessing

different bundles of resources is

a. resource heterogeneity.

b. resource immobility.

c. barriers to entry.

d. imitability.


. If a firm successfully adopts a product differentiation strategy, the elasticity of

demand for its products should

a. increase.

b. decrease.