Which term describes the ability of a firm/industry, under free and fair market conditions, to design, produce, and market goods and services that are better and/or cheaper than those of other firms/industries

Competitiveness.

Explanation:

Competitiveness can be defined as a term which describes the ability of a firm or industry, under free and fair market conditions, to design, produce, and market goods and services that are better and/or cheaper than those of other firms or industries.

It is simply a characteristic which give firms the ability to perform better than their rivals in the provision of goods and services in a market.

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to