Alternative theories include that prices reflect relative pricing power of producers and consumers--for example, a monopoly may set prices so as to maximize monopoly profit, regardless of actual costs of supply or demand, while a cartel may engage in price fixing.
A monopoly may set prices so as to maximize monopoly profit regardless of actual costs of supply or demand ehile a cartel may engage in price fixing. Alternative theories include that prices reflect relative pricing power of producers and consumers.
Alternative theories include that prices reflect relative pricing power of producers and consumers. A monopoly may set prices so as to maximize monopoly profit regardless of actual costs of supply or demand ehile a cartel may engage in price fixing.
Alternative theories include that prices reflect relative pricing power of producers and consumers. A monopoly may set prices so as to maximize monopoly profit regardless of actual costs of supply or demand ehile a cartel may engage in price fixing.