The firms competing over providing a better warranty of a product to their consumers demonstrate a competition on:
b). Service
- 'Service' is described as 'the practice of providing assistance to the consumers in terms of making their utilities.'
- The firms in an economy not only compete over providing better goods to the consumers but also in terms of offering comparatively effective and efficient services so that they prefer one over the other.
- In the given situation, a firm giving a superior warranty exemplifies greater assistance, leading the consumers to opt for it.
Hence, option b is the correct answer.
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