Apple's wildly successful iPhone comes equipped with a full-blown version of the company's iOS and Web browser

When are competitors most likely to react to price changes? How can a firm anticipate the likely reactions of its competitors?

What will be an ideal response?

Extensive customization of a product offered in different international markets can defeat which of the following benefits of global trade?

A) lowered production costs B) access to less expensive labor C) access to less expensive materials D) access to new consumer markets E) ability to offset domestic economic cycles