NO.PZ2022061307000063
问题如下：
QuestionIndustry 1:
A few companies with proprietary technologies, products with unique features, high switching costs, and minimal regulatory influences.
Industry 2:
A few companies producing relatively similar products, sales varying with disposable income and employment levels, high capital costs and investment in physical plants, rapid shifts in market shares of competing firms, and minimal regulatory influences.
Based on the above information, the analyst will most appropriately conclude that, compared with the firms in Industry 2, those in Industry 1 would potentially have:
An equity analyst follows two industries with the following characteristics:选项：
A.over-capacity problems.
B.high bargaining power of customers.
C.larger economic profits.
解释：
SolutionC is correct. The economic profit (the spread between the return on invested capital and the cost of capital) tends to be larger in industries with differentiated products, greater pricing power, and high switching costs to customers. Industry 1 has these features. In contrast, firms in Industry 2 have little pricing power (undifferentiated products and rapid shifts in market shares, indicating intense rivalry), which is indicative of potentially smaller economic profits.
A is incorrect. The characteristics of Industry 1 do not indicate a potential for over-capacity problems. If anything, Industry 2 is prone to such a problem because of high capital costs and investment in physical capital, cyclical demand for products, and rapid shifts in market shares.
B is incorrect. Industry 1 is less prone to the bargaining power of customers because of differentiated products and high switching costs for customers.
已分析出了行业1拥有专利技术，差异化产品，高转换成本等特点，但是想不明白A&C选项的区别在哪，为何不会出现产能过剩？产能过剩一般在什么情况下发生？C选项又是何时会发生？
