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son4ous [18]
3 years ago
6

"Competition in quality and service may be just as effective as price competition in giving buyers more for their money." Do you

agree? Explain why monopolistically competitive firms frequently prefer non-price competition to price competition.
Business
1 answer:
posledela3 years ago
7 0

Answer:

Yes, I agree that Competition in quality and service may be just as effective as price competition in giving buyers more for their money.

Explanation:

Price competition is one of many ways that a product or service can compete in the marketplace with consumers choosing affordability over quality. Consumers make purchases mostly on the basis of which is cheaper.

Competitive pricing is used more by businesses selling similar products, since services can vary from business to business, while the attributes of a product remain similar.

monopolistically competitive firms such as hotels frequently prefer non-price competition because they do not want consumers to choose affordability over quality which is usually more expensive.

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3 years ago
What methods may an economist use to test a hypothesis? A. Wait for real-world events to confirm or refute the hypothesis. B. Co
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Answer:

A. Wait for real-world events to confirm or refute the hypothesis.

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Explanation:

Hypothesis by economists can lead to results that can decide economic policy. As such, it is important that they are tried and tested.

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5 0
3 years ago
Is the type of competition that occurs in a competitive market without identical producers.
amm1812

Answer:

Monopolistic

Explanation:

The type of competition that occurs in a competitive market without identical producers is a monopolistic one.

8 0
3 years ago
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Gala2k [10]

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The correct word for the blank space is: Shareholders.

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To learn more about income statement here

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2 years ago
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