In a pure market, the only distinguishing variable that a firm can use to its advantage is ______.
A) product superiority
B) relative price
C) technological know-how
D) none of these

Question

Quizplus · Accepted Answer

In a pure market, all firms have equal access to technology and knowledge, and products are standardized. Therefore, the only way for a firm to distinguish itself and gain a competitive advantage is by setting a more attractive price compared to its competitors.

In a Pure Market, the Only Distinguishing Variable That a Firm