When faced with the realities of competition,the price any specific firm will quote will be governed largely by the friendship the sellers have forged with the buyers.

Question

Quizplus · Accepted Answer

In a competitive market, the price a firm quotes is primarily determined by market forces such as supply and demand, cost of production, and competition levels, rather than personal relationships between sellers and buyers.

When Faced with the Realities of Competition,the Price Any Specific