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

question 82

Multiple Choice

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

• A) Competition forces firms to outsource the production of their labor-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.

---

Definitions:

Performance-Based Personality Tests

Evaluations designed to assess personality traits through the analysis of behaviors in specific tasks or situations, rather than through self-report questionnaires.

Narcissism

A personality trait or disorder characterized by an exaggerated sense of self-importance, need for admiration, and lack of empathy for others.

I Data

Information or data that is subjective and often derived from personal judgments and opinions, typically used in the context of psychological assessments.

Causal Force

An influence or factor that brings about change in a situation or induces a specific outcome.