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Why do you think in certain instances one firm can provide lower prices than two or more firms?

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Solution Summary

Solution discusses how one firm can provide lower prices than two or more firms in certain instances.

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It is possible for one firm to provide better prices than other two or firms because of the following:

1. The firm might have obtained patent or copy right for a certain product and other firms have license for this and are paying a license fee. Firm, which is not paying license fee, can definitely offer better prices.

2. A firm ...

Solution provided by:
Lokesh Jain, MSc
Education
  • BEng (Hons) , Birla Institute of Technology and Science, India
  • MSc (Hons) , Birla Institute of Technology and Science, India
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