Jeff Is an Entrepreneur Who Decided to Start an Online

Multiple Choice

Jeff is an entrepreneur who decided to start an online bakery. Since all his business will be done online and he can bake in his home kitchen, he is saving building and other brick-and-mortar costs that allow him to pass these savings on to his customers. Reducing prices to customers is an element of

A) productivity.
B) efficiency.
C) competition.
D) equilibrium pricing.
E) resource distribution.