Rivalry among firms in an industry is typically stronger when which of the following is true about the underlying industry economics? (Note: It is possible that more than one—or none—of the answers to this question are correct. You must choose all correct answers to get full credit.)

(a) Fixed costs of production are high.

(b) There are two competitors in the industry.

(c) Products are differentiated.

(d) Production capacity in the industry is low relative to current demand.