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They can set higher prices to earn a better profit.
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∙ 10y ago
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Why do small firms continue to exist despite the issue of competition?
why do small firms continue to exist despite competition from large firms
Which is the reason why there is no advertising by individual firms under pure competition?
Under pure competition, firms produce a homogeneous product, so there is no reason to advertise. Pure competition is also known as perfect competition.
What illegal economic function causes business firms to combine to prevent competition?
A cartel or monopoly causes business firms to combine to prevent competition.
There is no control over price by firms in?
Pure competition
How do firms engage in price competition?
Firms might engage in price competition by advertising that they offer the lowest price on selected merchandise. Price competition lowers the selling price of the good, relative to competitors' prices.-From Usatestprep.com
Why do Firms trying to avoid competition?
Firms try to avoid competition so that they can set higher profits and earn greater profits.
Why do small firms continue to exist despite the issue of competition?
why do small firms continue to exist despite competition from large firms
Which is the reason why there is no advertising by individual firms under pure competition?
Under pure competition, firms produce a homogeneous product, so there is no reason to advertise. Pure competition is also known as perfect competition.
What illegal economic function causes business firms to combine to prevent competition?
A cartel or monopoly causes business firms to combine to prevent competition.
There is no control over price by firms in?
Pure competition
How do firms engage in price competition?
Firms might engage in price competition by advertising that they offer the lowest price on selected merchandise. Price competition lowers the selling price of the good, relative to competitors' prices.-From Usatestprep.com
What is the difference between oligo polistic competition and pure monopolistic competition?
In monopolistic competition, firms capture monopoly profits through specialisation of their product, making it non-substitutable with competing firms' products. In oligopolistic competition, this does not occur. Instead, three are three general outcomes: 1) firms collude to mimic a monopoly and share monopoly profits; 2) a dominant firm leads the market and sets the price; 3) firms compete freely and but take each other's decisions into account.
What is the explanation for the features of monopolistic competition?
Existence of large firms, no competition and influence over the prices are some of the characteristics of monopolistic competition.
How can a person leave their bad habits?
Well they have to learn from the habit and try to aviod it.
What does perfect competition do?
Perfect competion lowers the cost of good and services by increasing the competition among firms.
What to do if you don't like your half sister's father?
you just try and aviod him as much as posiple
How long after taking mebendazole can you have a drink of alcohol?
no try to aviod it
