Prices tend to be more flexible when there are only two or three rival firms rather than a large number of sellers in the market.

Name: Prices tend to be more flexible when there are only two or three rival firms rather than a large number of sellers in the market.
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Question

Quizplus · Accepted Answer

Prices tend to be less flexible with fewer firms due to potential collusion or price leadership, whereas more competition with many sellers usually leads to more price flexibility.

Prices Tend to Be More Flexible When There Are Only