Competition as a dynamic process implies that individual firms in a market
A) seek to utilize a variety of techniques, such as product, style, and convenience of location, to win the dollar vote of consumers, but they never use price to compete.
B) use price competition as well as other forms of competition to gain the dollar votes of consumers.
C) produce a homogeneous product.
D) cooperate, attempting to establish a price and output structure so each firm can survive and continue to serve the consumer.

Question

Quizplus · Accepted Answer

Competition as a dynamic process involves firms using both price and non-price strategies to attract consumers and gain market share.

Competition as a Dynamic Process Implies That Individual Firms in a Market