Direction: In the questions given below are two statements labelled as Assertion (A) and Reason (R). In the context of the two statements, which one of the following is correct? |
Assertion (A) High intensity of competitive rivalry can make an industry more competitive and decrease profit potential for the existing firms. |
Reason (R) Industry with excess production capacity will have greater rivalry among competitors. |
A) Both A and R are true and R is the correct explanation of A.
B) Both A and R are true, but R is not the correct explanation of A.
C) A is true, but R is false.
D) A is false, but R is true.
Correct Answer: B
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