A Market's Boundaries Are Defined By

Multiple Choice

A market's boundaries are defined by:

A) The geographies of the markets that are supplied by the incumbents
B) The type of product which is sold, and the type of customers willing to pay for the product
C) Substitutability on the demand side and substitutability on the supply side
D) Substitutability on both the demand side and the supply side, combined with an element of judgment depending on context and purpose