Director / Editor: Victor Teboul, Ph.D.

Looking inside ourselves and out at the world
Independent and neutral with regard to all political and religious orientations, Tolerance.ca® aims to promote awareness of the major democratic principles on which tolerance is based.

What is competition, and why is it so important for prices?

By Paul Blacklow, Lecturer in Economics, University of Tasmania

Across the economy, similar things tend to have similar prices. Have these been driven to their lowest natural level by competition? Or are firms abusing market power to charge whatever they want?

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