Question

Among competing firms, a firm’s actions are considered strategic substitutes when: Group of answer choices an increase in one firm’s action causes the other firm’s optimal reaction to decrease. competing goods are very close substitutes for one another. firms compete on multiple dimensions like price, quantity, and product attributes. one firm’s actions do not trigger a reaction from the other firms. firms compete on the basis of price.

Answer 1

firms compete on multiple dimensions like price, quantity, and product attributes.

Step-by-step explanation:

Price, product and place are common factors used by firms to establish a competitive advantage over other strategic groups within the same industry. These factors enable a firm to establish a long term projection plan for their products and services in a competitive environment.