Two factors that determine the effects of competitors' prices on a small business owner's pricing decisions are the location of the competitors and the nature of the competing goods.

Question

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The location of competitors can affect a small business owner's pricing decisions because consumers may compare prices between nearby businesses. Additionally, the nature of competing goods can also play a role in pricing decisions as businesses may differentiate their products through quality, features, or branding.

Two Factors That Determine the Effects of Competitors' Prices on a Small