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Started By
Message
re: Based Jeff Bezos cutting prices at Whole Paycheck
Posted on 8/24/17 at 1:59 pm to HailHailtoMichigan!
Posted on 8/24/17 at 1:59 pm to HailHailtoMichigan!
quote:
How is that going to happen in an industry where profit margins are already razor thin?
Get smarter or die off
1
Posted on 8/24/17 at 2:05 pm to Salmon
quote:That is what will hopefully happen in the long term.
Get smarter or die off
But firms in perfectly competitive markets are not price makers. They can't just lower prices below the market clearing rate and not deal with a flood of buyers flooding their store.
That's why firms are price takers in competitive markets.
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