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2. (a) 'The intensity of competition depends on several factors.' Identify these factors and discuss briefly on them. (b) Can cost leadership strategy allow a

2. (a) 'The intensity of competition depends on several factors.' Identify these factors and discuss briefly on them. (b) Can cost leadership strategy allow a firm to earn above-average returns despite strong competitive forces? Discuss. (c) Explain Cost leadership vs. cost reduction

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