An organization's ability to offer market offerings at lower prices, in comparison with its competitors is known as
A. inelastic demand
B. product differentiation
C. cost leadership
D. elastic demand
Answer: Option C
Solution(By Examveda Team)
An organization's ability to offer market offerings at lower prices, in comparison with its competitors is known as cost leadership. Cost Leadership is the mechanism of establishing a competitive advantage by having the lowest cost of operation in the industry.This Question Belongs to Management >> Management Accounting
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