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Home Value Inc, Max Cart Inc, and Nice Necessities Inc
Home Value Inc, Max Cart Inc, and Nice Necessities Inc. are three consumer-product retailing companies. Their products consist primarily of day-to-day items that are easy to imitate and sell. All three companies use the same resources and capabilities in the production and distribution of their products. Judging from the market conditions described in this scenario, which of the following statements is true?
A) Resource immobility of the firms will be low
B) Barriers to entry within the industry will be high.
C) Any advantage that one firm has will be short-lived.
D) The industry structure will be far from perfect competition.
Expert Solution
The answer is C) Any advantage that one firm has will be short-lived. This market sounds highly competitive, with minimal barriers to entry, commoditized products, and no indication of any sustainable competitive advantages.
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