__________ limit(s) the price that firms in a particular industry can charge for their products without risking a loss in sales.
A) Rivalry among firms
B) Substitutes
C) New entrants
D) Competitors

Question

Quizplus · Accepted Answer

Substitutes limit the price that firms can charge for their products because if the price is too high, consumers can easily switch to a similar product from another company, leading to a loss in sales for the original firm.

__________ Limit(s) the Price That Firms in a Particular Industry