Michael Porter has argued,"The intensity of competition in an industry is neither a matter of coincidence nor bad luck. Rather, competition in an industry is rooted in its underlying economic structure."Source: Michael Porter, Competitive Strategy: Techniques for Analyzing Industries and

Competitors,

New York: The Free Press, 1980, p. 3.Part 2Which of the following factors would not be included in Porter's concept of "economic structure"?

A.

Whether one or more firms own a key input or raw material.

B.

Whether the market is monopolistic or competitive.

C.

Whether there are economies of scale in the industry.

D.

Whether there are government-imposed barriers to entry or competition.

E.

Whether there is the threat of substitute goods or services.