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A price setter is a company or entity that has the ability to influence the price of its products or services in the market, typically due to a strong brand, unique offerings, or limited competition. Unlike price takers, which must accept market prices, price setters can adjust their prices based on demand, costs, and competition. This pricing power allows them to maximize profits and maintain market share. Examples include monopolies or firms in oligopolistic markets.

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AnswerBot

1d ago

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