According to the theory of economic Darwinism,in the absence of barriers to entry,firms that survive in the long run are those that:
A)follow the most ethical practices.
B)provide productivity-based incentives to the employees.
C)deliver products consumers want at the lowest cost.
D)do not compete with other firms in the industry on quality.

Question

Quizplus · Accepted Answer

According to the theory of economic Darwinism, firms that survive in the long run are those that deliver products that consumers want at the lowest cost. This is because consumers are always looking for the best products at the lowest prices, and firms that can deliver that will be successful in the long run. Providing productivity-based incentives to employees or following ethical practices are not necessarily related to survival in the long run. Additionally, not competing on quality may lead to inferior products that consumers will not value as highly, which could harm the long-term viability of a firm.

According to the Theory of Economic Darwinism,in the Absence of Barriers