Multiple Choice
Which of the following takes place when an industry matures?
A) It forces more efficient producers to increase prices to gain market share.
B) It forces the producers to substitute skilled craft work with cheaper labor.
C) It results in less standardized production methods thus forcing employers to hire low skilled labor.
D) It gets dominated by relatively few firms and the less dominant either mimic the leader or occupy niches.
Correct Answer:
Verified
Correct Answer:
Verified
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