The firm patrick started nearly a decade ago is commonly referred to as a market leader. upon reflecting on the leadership status of his company, patrick considered the qualities that could eventually bring a firm to a leading position in the marketplace. which of the following is likely not a reason in patrick's mind for a company being classified as a "leader"?
a. sometimes a company is said to be the leader because it has the largest market share. b. sometimes a company is said to be a leader because it was first to market. c. sometimes a company is said to be a leader because it is a consistent and profitable follower. d. sometimes a company is known for being innovative or quick to improve some other company's ideas.

The correct answer is C

Explanation:

Market leader is the company position which have the largest market share or the highest profitability margin in a market for the goods and services. Market share, could be measured or evaluated by either the volume of the goods sold or the goods value.

The one which is not the reason in the mind of Patrick for being recognized as a leader is that the company is consistent as well as the profitable follower.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.