What is price competition?
A)Sellers compete with each other by charging as high a price as possible.
B)Sellers force competitors to lower their prices until the competitors have losses.
C)Sellers try to win customers through charging as low a price as possible.
D)Sellers differentiate products so they can charge a higher price.

Question

Quizplus · Accepted Answer

Price competition is when sellers try to win customers by charging as low a price as possible. This can lead to a pricing war between competitors as each one tries to offer a lower price than the others. The goal is to attract more customers and gain market share.

What Is Price Competition