It is important to understand the market structure you are operating in because:
A)that defines how much freedom you have to set prices.
B)it will tell you how much attention to pay to your competitor's behavior.
C)it is key to running a successful business.
D)All of these statements are true.

Question

Quizplus · Accepted Answer

All of the statements are true. Understanding your market structure will give you insight into how much pricing power you have, what your competitors are doing, and how to run a successful business in that particular market. It is essential to know the market structure to make informed decisions for your business.

It Is Important to Understand the Market Structure You Are