Which of the following2 pointsstatements regardingsubstitutes is accurate? *In the extreme, substitutes canultimately replace an industry'sproducts or services.The importance of substitutes inO reducing the profit potential in a widevariety of industries is decreasing.Substitutes rarely impact theO profitability that firms in an industrycan earn.Substitutes place a floor on the pricesfirms in an industry can charge and onthe profits firms in an industry canearn.

Which of the following statements regarding substitutes is accurate? In the extreme, substitutes…

Answered: Which of the following 2 points…

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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