Suppose Thelma and Louise both sell tomatoes in a perfectly competitive market. If Louise increases the amount of tomatoes that she sells in the market, the price at which Thelma sells her output is unaffected
Step-by-step explanation:
Competitive pricing means the selection of strategic price ranges for the best possible benefit in relation to competition of a goods or services in market.
Competitive pricing is mostly used by companies that sell similar items because facilities vary from company to business and the product's attributes are similar.
The reality is that competitive markets also produce quality and price products with lower prices, better quality ,and facilities, and more competition. Well educated customers analyse the products and make their own price-quality transaction.