An industry having a high degree of price competition would be characterized by:

a. Low Industry Concentration, Few Legal Barriers to Entry, Low Product Differentiation b. Few Exit Barriers, High First mover advantage, Low Product Differentiation c. Low Industry Concentration, Steep Learning Curves, Low Firm Excess Capacity d. Low Concentration, Low Fixed-Variable Cost Ratio, Few Legal Barriers to Entry e. Supply > Demand, Low First Mover Advantage, Low Fixed to Variable Cost Ratio