Question

Which of the following is not an example of the three basic strategies to creating economic...

Which of the following is not an example of the three basic strategies to creating economic profits that are outlined in a text?

Concealing information from customers

Reducing competition in the market

Differentiating the product

Finding ways to reduce costs
Business   Economics   
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Answer #1

Answer : The answer is option A.

When competition decrease then the demand for good in a market increase which increase the economic profit of firm.

When products are differentiated in a market then the demand for differentiated products increase which increase the economic profit of firm.

When cost level decrease then profit level increase for firm.

Therefore, only option A is not a basic strategy to make the economic profit. Hence option A is the correct answer.

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