The nature of competitors' goods does not influence the small firm's pricing policies.

Question

Quizplus · Accepted Answer

The nature of competitors' goods can have a significant impact on a small firm's pricing policies. For example, if the competitors offer similar products at lower prices, the small firm may need to adjust their prices accordingly to remain competitive. Alternatively, if competitors offer inferior products at lower prices, the small firm may be able to set higher prices due to the higher quality of their products.

The Nature of Competitors' Goods Does Not Influence the Small