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Studies in economics focus on consumer and firm behaviors. On the supplier side of the equation, a substantial amount of time and effort are devoted to the determination of price. Costs weigh heavily on that process in perfectly competitive situations, but many factors come into play in other situations. Firms may compete through price or some other mechanisms depending on the market structure in which they operate. Sometimes their pricing and output strategies generate too many problems for... więcej
Salem Press Encyclopedia, 2021. 8p.
