A price-competition approach is an effective strategy for a firm with a long-term cost advantage over its competitors.

Name: A price-competition approach is an effective strategy for a firm with a long-term cost advantage over its competitors.
Brand: Quizplus
Rating: 4.9 (50 reviews)

Question

Quizplus · Accepted Answer

A firm with a long-term cost advantage can sustain lower prices than its competitors, attracting more customers and potentially increasing market share, making price competition an effective strategy.

A Price-Competition Approach Is an Effective Strategy for a Firm