In nonprice competition, sellers
A) seek to shift the demand curves of consumers.
B) seek to shift their supply curves.
C) move along a demand curve.
D) reduce prices by being cost efficient.

Question

Quizplus · Accepted Answer

In nonprice competition, sellers focus on factors other than price, such as product quality, service, and brand image, to differentiate themselves and attract consumers. This strategy aims to shift the demand curve to the right, increasing demand for their product at the same price levels, rather than moving along a given demand curve or primarily focusing on cost efficiency to reduce prices.

In Nonprice Competition, Sellers