Question

When one store stays open late to gain an advantage, its competitors begin to stay open late, too. At this point the first store is no better off than it was before, but now every store has additional expenses. This illustration is an example of what Frank and Cook call a:______A) Struggle for parity.B) Virtual conflict.C) Positional arms race.D) Market economy.E) Capitalistic marathon.

Answer 1

Answer:

C. Positional arms race.

Explanation:

When one store stays open late to gain an advantage, its competitors begin to stay open late, too. At this point the first store is no better off than it was before, but now every store has additional expenses. This illustration is an example of what Frank and Cook call a positional arms race.

The positional arms race happens when one or two groups or persons put more efforts, money and time into gaining an advantage over the other but then the others also invest the same, at the end of the day, it goes back to the initial.