_____ Carry Broad Product Assortments and Compete on the Basis

question 9

Multiple Choice

_____ carry broad product assortments and compete on the basis of offering a good selection in different product categories and offering lower prices on products in their large assortments.

• A)Specialty stores
• B)Mass merchandisers
• C)Convenience stores
• D)Category killers

---

Definitions:

Marginal Benefit

The additional satisfaction or value a consumer gains from consuming one more unit of a good or service.

Purely Competitive

Describes a market structure where many small firms compete against each other, with no single entity able to control the market price.

Marginal Cost

The cost of producing one additional unit of a good, capturing how production costs change with the level of output.

Efficiently Allocated

A state where resources are distributed in a manner that maximizes the net benefits to society.