Ace bakery charges competitive prices for their specialty, Ask an Expert

Economics

Ace Bakery charges competitive prices for their specialty cakes, even though it has no competition. This is most likely because:

a. There are no economies of scale in this industry.

b. They operate in a contestable market.

c. They are a natural monopoly.

d. They care more about their customers' well-being than their own well-being.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91233332

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