How might firms engage in price competition?

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18-09-2018
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How might firms engage in price competition?

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DukeMoseti DukeMoseti · Answer 1 · 2018-09-28T08:31:35+02:00

DukeMoseti DukeMoseti

28-09-2018

Firms engage in price competition by lowering the price of their product to attract more buyers than competing firms. This is because, holding other factors equal, consumers are likely to buy the products that are priced at a lower price.

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