Markup would not exist in

Name: Markup would not exist in
Brand: Quizplus
Rating: 4.9 (54 reviews)

Question

Quizplus · Accepted Answer

Markup refers to the increase in price above the cost of production or acquisition of a product. In a competitive market, businesses are forced to keep their prices low in order to attract customers, so there is little room for markup. In monopolistic competition, oligopoly, cartel, and monopoly, businesses may have more control over prices and could potentially engage in markup.

Markup Would Not Exist in