Economists Note That Imperfect Competition Occurs Because Consumers Have Unique

question 32

True/False

Economists note that imperfect competition occurs because consumers have unique needs and desires.

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Definitions:

Transfer Price

The price at which goods and services are sold between divisions within the same company or between subsidiaries of a parent company.

Market Price

The current price at which an asset or service can be bought or sold in a open market.

Variable Costs

Variable costs are those expenses that change in proportion to the volume of goods or services that a business produces.

Cost Driver

A factor that influences or contributes to the expense of certain business operations or activities.