The primary objective of Porter's five forces model is to understand the profit potential of industries. break down a firm's value chain activities into primary and support. understand valuable, rare, and hard-to-imitate resources. reduce the gap between the value of a firm's product and its cost of production.

Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.