How does competition among firms affect the incentive of each firm to. (a). Operate efficiently (produce at

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How does competition among firms affect the incentive of each firm to.

(a). Operate efficiently (produce at a low per-unit cost)

(b). Produce goods that consumers value? What happens to firms that fail to do these two things?

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Economics Private And Public Choice

ISBN: 9780357133996

17th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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