Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter4: Demand, Supply, And Markets
Section: Chapter Questions
Problem 10QFR
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Question
What is the importance of competition in markets?
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Market is a means, where exchange of goods and transactions are made. Competition put business into constant pressure to perform better.
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