In one paragraph, explain the pricing factor of competitor pricing. Why does what the competitors charge affect pricing? Consider that some companies charge more or less as the competition for the same product.

In one paragraph, explain the pricing factor of competitor pricing. Why does what the competitors charge affect pricing? Consider that some companies charge more or less as the competition for the same product.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter14: Monopolistic Competition And Product Differentiation

Section: Chapter Questions

Problem 13P

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