All of the Following Except One Are Reasons Why Competitive

question 12

Multiple Choice

All of the following except one are reasons why competitive firms are obliged to be innovative.Which is the exception?

• A)If they do not keep up with the latest methods,new firms will enter who are willing to use these methods.
• B)Innovation implies higher profits for the firm in the short run.
• C)Innovations will increase the costs of production which will induce firms to increase production.
• D)Innovation usually encourages new entrants which will reduce the price in the long run,thus penalizing firms which do not innovate.

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Definitions:

Deviant Lying

The act of telling falsehoods that deviate significantly from societal norms or expectations, often with harmful intentions.

Most Harmful

Describes the action, substance, or event that is likely to cause the greatest damage or negative impact.

Violates The Law

refers to actions or behaviors that go against legal statutes, ordinances, or regulations, resulting in illegal conduct.

Accuracy

The degree to which a measurement, calculation, or expression correctly reflects or represents the intended value, often judged in terms of error margins.