In imperfectly competitive markets a ) some competition may exist but only in price and not in other ways. b ) there is no competition among firms. c ) some competition may exist among firms. d ) some competition may exist but only in other ways and not in price.
In imperfectly competitive markets a ) some competition may exist but only in price and not in other ways. b ) there is no competition among firms. c ) some competition may exist among firms. d ) some competition may exist but only in other ways and not in price.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section4.1: Markets And Competition
Problem 1QQ
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In imperfectly competitive markets
- a )
some competition may exist but only in price and not in other ways.
- b )
there is no competition among firms.
- c )
some competition may exist among firms.
- d )
some competition may exist but only in other ways and not in price.
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