Last option for question 21 is Threat of Substitutes.

Question 19 Opportunism is mostly due to a firm hiring people who are opportunists. O True O False Question 20 In an acquisition, the acquiring firm usually pays a price very similar to the current stock market valuation of the firm it is buying. O True O False Question 21 Which of the following answers is the biggest strategic reason that firms prefer to sell a product that is the same across all countries, and not make a different product tailored to each country? O Economies of scale Government regulation O Size of market share in every country