To negotiate a balance in costs between the tax on imported goods and the cost to the company for production.
If they cannot successfully collude and instead produce where the market price equals marginal cost, the market price will be higher.
More about market price:
The price at which a good or service can currently be purchased or sold is known as the market price. The dynamics of supply and demand influence the market price of a good or service. The market price is the cost at which the quantity supplied and the quantity demanded are equal.
In order to determine consumer and economic surplus, the market price is used. Customer surplus, also known as the market price, is the difference between the highest price a consumer is willing to pay and the actual amount they pay for the commodity.
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If a person is involved in an automotive dealership, it is governed as per the laws under retail mercantile establishment regulations.
<h3>What is an automotive dealership?</h3>
An organization, which deals in selling or trade of automobiles like cars, bikes, trucks, and other such vehicles registered and governed under retail mercantile laws and general business laws, it is known as an automotive dealership.
Hence, the significance of an automotive dealership is aforementioned.
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<span>In this case the manager can study the sales and profits of the company over a particular period of time. This will enables the manager to understand where there is a actual deficiency so that the manager can work upon on that. Also the manager needs to take into consideration, the pricing policy as the industry is very competitive.</span>
