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Title: Which of the following statements about competition in a market is true? Post by: Tneary on Oct 9, 2019 Question 1. Suppose the extra cost for a company to advertise for one extra day each week in the local newspaper is $200. Then, the company should advertise on that additional day if it can generate additional revenue of $200 each week. ▸ true ▸ false Question 2. Which of the following statements about competition in a market is true? ▸ Competition forces firms to outsource the production of their labor-intensive products. ▸ Competition forces firms to add only low profit margins to their costs of production. ▸ Competition forces firms to undercut their selling price, thus benefiting consumers who will be able to purchase products at the lowest price possible. ▸ Competition forces firms to produce and sell products as long as the marginal benefit to consumers exceeds the marginal cost of production. Title: Which of the following statements about competition in a market is true? Post by: Curtis x9 on Oct 9, 2019 Content hidden
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