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Ample competition for a mostly-inelastic price-sensitive demand drives prices right down to break-even (or below), forcing all the small operators out of the ma
by JulianMorrison 13y ago
Ample competition for a mostly-inelastic price-sensitive demand drives prices right down to break-even (or below), forcing all the small operators out of the market and resulting in consolidation and cartelization.
- vdaniuk 13y agoI am studying economics atm, could you please provide a citation or an example of an industry that competition for mostly-inelastic price-sensitive demand drives prices down to break-even?