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Online MBA Degree Program. ECO561 Final Exam Answer 18

Nonprice competition refers to:



A.   reductions in production costs that are not reflected in price reductions.

B.   price increases by a firm that are ignored by its rivals.

C.   advertising, product promotion, and changes in the real or perceived characteristics of a product.

D.   competition between products of different industries, for example, competition between aluminum and steel in the manufacture of automobile parts.


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