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Relative to managers in more monopolistic industries, are managers in more competitive industries more likely to...

Relative to managers in more monopolistic industries, are managers in more competitive industries more likely to spend their time on A. Looking for ways to prevent transfers or arbitrage from price sensitive customers to less price sensitive customers B. Pricing strategies C. Looking for efficiencies that reducing costs D. None of the above

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Answer #1

Option B.

  • Relative to manager's in more monopolistic industries, manager's in more competitive industries most likely spend their time on pricing strategies.
  • This is because in competitive markets due to excess competition, a single firm does not have any individual influence on the market.
  • Due to large number of firms operating in such market's, the firms cannot charge higher than their customers as customers may prefer purchasing from other firms who charge lowest price among all the other firm's.
  • Therefore each firm in competitive markets must choose some pricing strategies that will help them in earning more profits and can get their customers purchase same goods from them rather than their competitiors.
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