Dean Runs a Woodworking Business Specializing in Kitchen Cabinets

Multiple Choice

Dean runs a woodworking business specializing in kitchen cabinets.He knows there are other firms with top-of-the-line machinery that make better quality cabinets,but he does well and has a constant flow of business.Dean obviously has

A) figured out how to produce cheap products.
B) priced his products well.
C) reduced his variable costs by investing in fixed costs.
D) avoided monopolistic competition,and is instead in a market with pure competition.
E) learned how to use status quo pricing.