Unformatted text preview: individual firms. When market conditions are perfectly understood there is no chance of a higher price being charged or paid. When factors of production are freely mobile, entry or exit of firms is facilitated. Proximity to the market further ensures that there is no extra transport cost, which may otherwise cause a small variation in the price....
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This note was uploaded on 11/26/2011 for the course ECON MICRO ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10