According to the _____ principle,firms that do not approximate profit maximization will not succeed in competitive markets.
A)equity
B)successor
C)survivor
D)winner-takes-all

Question

Quizplus · Accepted Answer

The survivor principle suggests that in competitive markets, only those firms that come close to maximizing profits will survive over the long term. This principle implies that less efficient firms will be weeded out, leaving behind the more efficient ones.

According to the _____ Principle,firms That Do Not Approximate Profit