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The selling price you set for your shoes can be different in each of the markets...

The selling price you set for your shoes can be different in each of the markets where you have a presence. true or false

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Answer #1

True.

The selling price of a product or service depends upon the market structure in which the product or service being sold in. if the product is being sold in a perfect competition market structure, it will be sold at a lower price because of a high degree of competition. On the other hand, if the product is being sold in a monopoly, it will be sold at a higher price because of the absence of the competition. Therefore, higher the competition lower would be the price and vice versa.

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