Which of the following statements is true about competition in a market?
a. competition forces firms to produce and sell products as long as the marginal benefit to consumers exceeds the marginal cost of production
b. competition forces firms to add only low-profit margins to their costs of production
c. competition forces firms to outsource the production of their labor - intensive products.
d. competition forces firms to undercut their selling price, thus benefitting consumers who will be able to purchase products at the lowest price possible.