Statements is true about competition in market

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Reference no: EM131170812

Which of the following statements is true about competition in a market?

a. competition forces firms to produce and sell products as long as the marginal benefit to consumers exceeds the marginal cost of production

b. competition forces firms to add only low-profit margins to their costs of production

c. competition forces firms to outsource the production of their labor - intensive products.

d. competition forces firms to undercut their selling price, thus benefitting consumers who will be able to purchase products at the lowest price possible.

Reference no: EM131170812

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