One of the limitation of Five Forces is that they
a. Reduce producer surplus
b. For one firm to increase profit, the profit of another participant must decrease
c. Does not provide a firm with sustainable competitive advantage
d. Both b and c
b
Economics
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The downward sloping marginal revenue product of labor is
A) the firm's supply of labor. B) the firm's short-run demand for labor. C) the firm's marginal cost of labor. D) another term for the marginal revenue product of labor.
Economics
When neither player has a dominant strategy,
A) game theory will not provide information. B) no Nash-Equilibrium exists. C) at least one Nash-Equilibrium exists. D) the game cannot be analyzed.
Economics