Question: A pricing strategy is a model or method used to establish the best price for a product or service. It helps you choose prices to

A pricing strategy is a model or method used to establish the best price for a product or service. It helps you choose prices to maximize profits and shareholder value while considering consumer and market demand. In view of this: a) Explain why pricing often varies in different markets, and describe the characteristics of the following markets: i. Perfect Competition ii. Monopolistic Competition iii. Oligopolistic Competition

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