One World View article is titled "Competition Shrinks India's Phone Bills." Competitive forces typically force companies to
A. Improve product quality and reduce service.
B. Cut prices, improve product quality, and improve service.
C. Improve service and raise prices.
D. Cut prices and reduce product quality.
Answer: B
You might also like to view...
Which of the following is likely to happen due to quantitative easing by the Fed?
A) A rightward shift of the demand curve for bank reserves B) A leftward shift of the supply curve of bank reserves C) A leftward shift of the demand curve for bank reserves D) A rightward shift of the supply curve of bank reserves
A minimum wage law dictates
A) the minimum qualifications for labor. B) the minimum quantity of labor that a firm must employ. C) the highest wage that firms must pay for labor. D) the lowest wage that firms may pay for labor.
Compared to Canada, Japan, Germany, and France, Social Security expenditures as a percentage of GDP of the United States is approximately
a. 12 percent and ranks among the lowest percent of the countries b. 47 percent and ranks among the lowest percent of the countries c. 12 percent and ranks among the highest percent of the countries d. 47 percent and ranks among the highest percent of the countries e. 77 percent and ranks among the highest percent of the countries
For a perfectly competitive market, long-run equilibrium is characterized by all of the following but which one?
A. P = maximum ATC. B. P = minimum ATC. C. P = MC. D. P = MR.