t. which of the following statement are used to distinguish "long term" from the "short-term" time horizons: a) In long term all costs, including fixed, are variable b) Long term is as long as the trend in external environment do not c e) In the long term; the more things change the more they are the same d) All of the above e) a) and b) only 2. In Porter's "Five Forces of Competition" model the relative power of Buyers as well as Suppliers is determined by a) Cost structures and Pricing flexibility b) Availability of Alternatives and Switching Cost c) Technological obsolescence and demography d) All the above e) None of the above Which of the following describe the elements of the Porter's "Five Forces of Competition" model will be affected by "Barriers to entry" a) Rivalry among existing and New Entrants b) Buyers and Suppliers c Buyers and Substitute Products d) All of the Above e) None of the above 3. There are two strategies available to a firm competing in perfectly competitive products: a) Overall Cost leadership or Preemptive Capacity b) Backwards or forwards Integration c) Differentiation or cost leadership d) Pacification or differentiation e) Growth Vector or Synergy 4. 5. The objective of anti trust legislation was to bring about perfecetly competitive structure (perfect competition) in US industries: a) True b) False 6. "Per se" approach to anti-trust legislation implies that certain practices are: a) Prohibited, regardless of the outcomes of such practices b) Prohibited, if the overall impact of such practices is unfavorable c) Exempted from persecution by federal agencies d) Illegal, if utilized by business firms to "unreasonable" degree