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Which of the following 2 points statements regarding substitutes is accurate? * In the extreme, substitutes can O ultimately replace an industry's products or services. The importance of substitutes in O reducing the profit potential in a wide variety of industries is decreasing. Substitutes rarely impact the profitability that firms in an industry can earn. Substitutes place a floor on the prices firms in an industry can charge and on the profits firms in an industry can earn.

Which of the following 2 points statements regarding substitutes is accurate? * In the extreme, substitutes can O ultimately replace an industry's products or services. The importance of substitutes in O reducing the profit potential in a wide variety of industries is decreasing. Substitutes rarely impact the profitability that firms in an industry can earn. Substitutes place a floor on the prices firms in an industry can charge and on the profits firms in an industry can earn.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Which of the following 2 points statements regarding substitutes is accurate? * In the extreme, substitutes can ultimately replace an industry's products or services. The importance of substitutes in O reducing the profit potential in a wide variety of industries is decreasing. Substitutes rarely impact the O profitability that firms in an industry can earn. Substitutes place a floor on the prices firms in an industry can charge and on the profits firms in an industry can earn.
Transcribed Image Text:Which of the following 2 points statements regarding substitutes is accurate? * In the extreme, substitutes can ultimately replace an industry's products or services. The importance of substitutes in O reducing the profit potential in a wide variety of industries is decreasing. Substitutes rarely impact the O profitability that firms in an industry can earn. Substitutes place a floor on the prices firms in an industry can charge and on the profits firms in an industry can earn.
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