(Answered) : 1.4 Some firms and their products face intensively competitive markets while other firms and their products have little to no ef

1.4 Some firms and their products face intensively competitive markets while other firms and their products have little to no effective competition. Explain why this condition may exist, which economic models describe both situations, and give examples to support your answer.

Expert Answer

This condition ismajory exosting because of difference in ecomocial situation from the market point of view. In pure competition market the payers tend to do price war as the competition is very high. Price sensitive product segment such as consumer goods companies need to apply strategies to chose their pricing based on the competition and from

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