Question: QUESTION 3 How do we differentiate the price in Low Cost Advantage? a. You can't. All firms must accept the same market price. b. Restrict

QUESTION 3 How do we differentiate the price in

QUESTION 3 How do we differentiate the price in Low Cost Advantage? a. You can't. All firms must accept the same market price. b. Restrict your quantity available for sale on the market. c. Create an alliance with your competitors, and agree as a group to reduce the quantity of product available to the market. d. Require your retailers to charge the price you set, or you will deny them access to your products. e. C and D. QUESTION 4 What determines the profit in Low Cost Advantage? a. The relative efficiency (difference in cost) compared only to the most efficient producer in the market. b. The relative efficiency (difference in cost) compared only to the least efficient producer in the market. c. The relative efficiency (difference in cost) compared each of the efficient producers in the market. d. The lowest market price. e. The highest market price

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