Monopolists are price makers. Why is this not the case for firms in a competitive market?...
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Monopolists are price makers. Why is this not the case for firms in a competitive market? Correct Answer(s) Drag appropriate answer(s) here Even if one or more of their competitors goes out of business, other competitors will appear. Price controls prevent firms in a competitive market from pricing their products as they think best. Incorrect Answer(s) Their product only makes up a small portion of the market's total product. Other sellers sell products that are similar if not identical. Drag appropriate answer(s) here + Monopolists are price makers. Why is this not the case for firms in a competitive market? Correct Answer(s) Drag appropriate answer(s) here Even if one or more of their competitors goes out of business, other competitors will appear. Price controls prevent firms in a competitive market from pricing their products as they think best. Incorrect Answer(s) Their product only makes up a small portion of the market's total product. Other sellers sell products that are similar if not identical. Drag appropriate answer(s) here +
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In case of competitive market there are large number of buyer... View the full answer
Related Book For
Operations Management Managing Global Supply Chains
ISBN: 978-1506302935
1st edition
Authors: Ray R. Venkataraman, Jeffrey K. Pinto
Posted Date:
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