Examlex
Which of the following is an example of 'optional prices'?
Close Substitute
A product or service that can easily replace another in consumption or use, due to similarities in characteristics or functionalities.
Monopolistic Competitors
Companies that are in a competitive market structure but with differentiated products, allowing them small amounts of market power to set prices.
Industry Supply Curve
A graphical representation showing how much product a market can offer at various prices, for a specific industry.
Market Price
Market Price is the current value at which an asset or service can be bought or sold in an open market.
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