Empirical studies suggest that when a large number of firms, Ask an Expert

Economics

Empirical studies suggest that when a large number of firms are present in a market, prices are usually ________ and profits are usually ________ than when there are only a few firms in a market.

a. lower; higher

b. higher; lower

c. lower; lower

d. higher; higher

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91719132

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