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Vera_Pavlovna [14]
1 year ago
7

Ken's lawn service co. operates in a perfectly competitive market. why doesn't ken try to increase his revenue by lowering his p

rice below the prevailing market price?
Business
1 answer:
galina1969 [7]1 year ago
3 0

High levels of competition characterize the market in which Ken's Lawn Service Co. operates. Why doesn't Ken strive to increase his revenue by lowering his pricing below the competitive market price given that he can sell as much as he wants at it

Perfect competition market  refers to a fictitious market structure. A scenario with perfect competition excludes monopolies. The following characteristics of this kind of structure are crucial: Each business is a price taker (they cannot influence the market price of their products).Market share has no bearing on price adjustments. The products being sold and the prices being charged in the past, present, and future are all fully known to the customers

Learn more about competitive market here

brainly.com/question/8753703

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