Competitive Pricing Is Efficient Because

question 187

Multiple Choice

Competitive pricing is efficient because

• A) the price that consumers pay reflects the opportunity cost to society of producing the good.
• B) firms make positive economic profits in long-run equilibrium.
• C) average revenue equals average cost.
• D) firms produce above the minimum efficient scale.

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Definitions:

Problem

An obstacle or issue that needs resolution or management, often requiring analysis and decision-making efforts.

Customer Mentioned

When a customer is referenced or talked about, particularly in the context of feedback, reviews, or marketing analysis.

Shipping Costs

The expenses involved in moving goods from one location to another, often a significant factor in the total price of online purchases.

Urgency Close

A sales technique where the seller creates a sense of urgency to motivate the client to make a purchase decision quickly.