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In the Porter's Five Forces framework, explain in detail 1.why intense competition in Rivalry amongst existing competitors may reduce the profitability of an industry by

In the Porter's Five Forces framework, explain in detail 1.why intense competition in Rivalry amongst existing competitors may reduce the profitability of an industry by increasing the overall level of competition and reducing the market share of already existing firms2.Why severe competition may also lead to price wars, which further damage the profitability of the company.

It is best to use citation arguments

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