Choose the Word or Phrase in [ ] Which Will

question 185

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement.
-The least expensive method for banks to interact with their customers is [ATM | online].

---

Definitions:

Monopolistic Competitor

A market structure where many firms sell products that are similar but not identical, allowing them some power to set prices due to product differentiation.

Advertising

The activity or profession of producing advertisements for commercial products or services.

Perfect Competitors

Firms that are so numerous and small in relation to the market they serve that they have no power to alter the market price of their product, characterized by a lack of market dominance.

Economic Profit

Profit exceeding the opportunity cost of resources used, indicating a return greater than the most lucrative alternative.