Price-making

Definition

Health Economics

  • A somewhat less satisfactory term for price-searching. It is less satisfactory because prices cannot be 'made' by firms independently of the demand for their product. Any firm that is not a price-taker has to discover (by guessing, searching for, copying similar others, doing market research on, running econometric models of, consulting entrails concerning.. .) the price that is most advantageous to it.
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