A firm that acquires a substitute product can try and reduce inter-product cannibalization by
a. Doing nothing
b. Repositioning its product or the substitute so that they do not directly compete with each other
c. Pricing each product at the same level
d. Raising prices on the low-margin products
b
Economics
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If firms do not earn economic profits in a competitive equilibrium, why would the firms choose to stay in business?
What will be an ideal response?
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Households ________ factors of production and ________ goods and services
A) supply; demand B) supply; supply C) demand; supply D) demand; demand
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