Final answer:
To find book titles with prices below the average at JustLee Books, one must first calculate the average retail price of all books, then compare each book's price to this average and list those that are lower.
Step-by-step explanation:
The student's question is aimed at finding the book titles and their corresponding retail prices for all books that are priced below the average retail price at JustLee Books.
To answer this, we would first need to calculate the average retail price of all the books available in the store. Once the average is determined, we then list all the books whose individual retail prices are less than this average value.
LibreTexts suggests that an increased product range typically leads to more competitive pricing, as competition often causes prices to adjust downwards.
For JustLee Books, this might mean if they have a large selection of books and healthy competition in the market, the average price could be an indicator of competitive pricing, reflecting the economic principle that more products of better quality benefit the consumer through potential price reductions.