________ Is a Product Characteristic That Determines Ease of Adoption

question 8

Multiple Choice

________ is a product characteristic that determines ease of adoption.

• A)Relative advantage
• B)Sustainable advantage
• C)Substitutability

Analyze how market demand influences firm and industry supply in a competitive market.

Explain the principle of profit maximization and its application in perfectly competitive markets.

Recognize the effects of market changes (e.g., entry/exit of firms, demand shifts) on firm strategies and market equilibrium.

Understand the role of production costs in determining firm behavior and market outcomes.