In the rural farming town of York Springs, Smith's was the only grocery store and Lehman's was the only animal feed mill. How would you describe these businesses
1
Expert's answer
2016-12-13T11:20:12-0500
If in the rural farming town of York Springs, Smith's was the only grocery store and Lehman's was the only animal feed mill, then these businesses can be described as local monopolies, that's why they can set the higher prices in their town and provide lower than competitive quantity of the output.
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Comments
Leave a comment