Competition as a Dynamic Process Implies That the Individual Firms

question 70

Multiple Choice

Competition as a dynamic process implies that the individual firms in an industry

• A) face a perfectly elastic demand curve.
• B) utilize a variety of techniques, such as product, style, and price, to win the dollar votes of consumers.
• C) produce a homogeneous product.
• D) cooperate, attempting to establish a price and output structure so each firm can survive and continue to serve the consumer.

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