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Oct 16, 2018
There are a lot of hidden assumptions when talking about how a competitive market should be working. In the example you give, you assume vendors use pricing competition to gain market share which could possibly make up for the lost profit due to lower pricing. Perhaps it does not. Perhaps selling less but making more on it is better for sellers. Perhaps they all realize this. Perhaps fighting for market share is done in other ways. Or, perhaps there is collusion.
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