Which of the Following Statements Is True About Competition in a Market

question 142

Multiple Choice

Which of the following statements is true about competition in a market?

• A)Competition forces firms to outsource the production of their labour-intensive products.
• B)Competition forces firms to undercut their selling price, thus benefiting consumers who will be able to purchase products at the lowest price possible.
• C)Competition forces firms to produce and sell products as long as the marginal benefit to consumers exceeds the marginal cost of production.
• D)Competition forces firms to add only low profit margins to their costs of production.

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Definitions:

Organizational Pattern

The arrangement of ideas and information in a coherent and logical manner to achieve effective communication.

More Important To Less Important

A method of organization where information is presented according to its relative significance, with the most crucial details first.

Organizational Pattern

the structure and arrangement of ideas or content within a piece of writing or speech, designed to enhance clarity and comprehension.

Complex Document

A document that features multiple elements such as charts, tables, and references, often requiring specialized knowledge to interpret.