When competition is present, self-interested business decision makers have a strong incentive to
A) produce efficiently.
B) ignore the wishes of customers who are also self-interested.
C) adopt technological improvements slowly in order to avoid making wrong decisions
D) maximize price in order to maximize profits.

Question

Quizplus · Accepted Answer

Competition forces businesses to produce efficiently to offer better prices and quality to attract customers, as failing to do so would result in losing market share to competitors.

When Competition Is Present, Self-Interested Business Decision Makers Have a Strong