Employers in highly competitive markets are less able to raise prices without loss of revenues.

Name: Employers in highly competitive markets are less able to raise prices without loss of revenues.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In highly competitive markets, consumers have many options to choose from, and if a company raises prices, consumers may switch to a competitor's offerings. This means that companies may lose revenues if they raise prices, making it less viable as a strategy.

Employers in Highly Competitive Markets Are Less Able to Raise