A situation in which one firm's actions with respect to price, quality, advertising and related changes may be strategically countered by the reactions of one or more other firms in the industry is known as

If MRPlabor/MRClabor > MRPcapital/MRCcapital, then the firm should

a. hire more labor b. substitute capital for labor c. not change anything d. buy more capital e. decrease the amount of labor

All of the following are cited as factors in explaining U.S. competitiveness EXCEPT

A) the open U.S. financial system. B) economic restructuring. C) investments in information technology. D) the decline of entrepreneurship.