In order to exercise control over the price of its product, a firm must be able to ________ competition.
A) maximize
B) increase
C) not change
D) limit

Question

Quizplus · Accepted Answer

In order to exercise control over the price of its product, a firm must be able to limit competition. This allows the firm to have more influence over pricing, as less competition typically means fewer alternatives for consumers, giving the firm more pricing power.

In Order to Exercise Control Over the Price of Its