Question

Relative to managers in more monopolistic industries, are managers in more competitive industries more likely to spend their time on reducing costs or on pricing strategies?

Answer 1

Explanation:

Relative to managers in more monopolistic industries, managers in more competitive industries are more likely to spend time on pricing strategies rather than on reducing costs.

Since the monopolist can choose its price, it is likely to put more energy into cutting costs in order to increase profit on the same level of output