Suppose the Benchmark Competitive Product Has a Price of $300,costs

question 26

Multiple Choice

Suppose the benchmark competitive product has a price of $300,costs $200 to install,and averages $500 in usage and maintenance costs.Your product is priced at $400,costs $100 to install,and averages $400 in usage and maintenance costs.In this situation,the economic value of your product over the benchmark competitive product is ________.

• A)-$200
• B)-$100
• C)$0
• D)$100
• E)$200

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Definitions:

Embroidered

Refers to a cloth that has been decorated with needle and thread or yarn, often featuring intricate designs or patterns.

Reverse Auction

In an e-marketplace, an online auction in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other.

E-commerce Marketspaces

Digital platforms or environments where buyers and sellers engage in commerce, trading goods and services online.

Independent Trading Community

A group or platform that allows individuals to trade goods, services, or financial instruments directly without intermediaries.