Which of the Following Statements Concerning the Impact of Competition

question 99

Multiple Choice

Which of the following statements concerning the impact of competition on a small company's prices is true?

• A)When setting prices, a business owner must either match or beat competitors' prices on similar products or services.
• B)Because federal laws prohibit the practice as an unfair trade practice, business owners should not monitor their rivals' prices on identical items.
• C)When going up against larger, more powerful rivals, small firms should consider using nonprice competition as a way to differentiate their products or services rather than head-to-head price competition.
• D)All of the above

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