Higher prices yield more profit, but have a smaller chance of gaining a contract. This is a major principle of

Question

Quizplus · Accepted Answer

This principle is a fundamental aspect of competitive bidding, where businesses submit bids to win contracts, often facing a trade-off between offering a competitive price and maximizing potential profit. Higher prices can lead to higher profits if a contract is won, but they also reduce the likelihood of winning the contract due to higher competition.

Higher Prices Yield More Profit, but Have a Smaller Chance