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We tend to hear that in any market structure, including perfectly competitive, what matters the most is location. Others argue that it is the firm's
We tend to hear that in any market structure, including perfectly competitive, what matters the most is location. Others argue that it is the firm's ability to attract and retain customers that is important. Given the slight difference in profit-making in a perfectly competitive market, how do you think these factors impact a firm's ability to compete and remain a viable business?
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Youre rightboth location and customer attraction play a role in a firms ability to compete and surviveeven in a perfectly competitive marketHeres why ...Get Instant Access to Expert-Tailored Solutions
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